KOCHI: The Kochi Metro Rail Ltd (KMRL) is incurring a loss of Rs 18 lakh per day for operating the metro services connecting Aluva and MG Road. Chief Minister Pinarayi Vijayan revealed this in a written reply to Ibrahim Kunju MLA in the state Assembly. The Chief Minister has also mentioned that the KMRL is exploring possibilities of increasing non-ticket revenue stream by leasing the space for advertisement and property development.
An agreement has been reached for leasing metro pillars and medians for display of advertisements, the Chief Minister said. Discussions are also going to extend the same to the areas coming under the control of the National Highway Authority of India. The other major scheme for augmenting the income of the ailing metro project is developing a residential-cum-commercial complex at Kakkanad.
The government is examining the proposal for transferring 15.315 acres of land currently under the possession of the Public Works Department to the KMRL for the purpose. The average cost for operating the metro services is Rs 38 lakh per day while the average collection from ticket sales is hovering around Rs 17 lakh per day. The KMRL will soon have to find a steady revenue stream to overcome the mounting losses in daily operations.
