SRINAGAR, JULY 6: The State Administrative Council (SAC)which met under the chairmanship of Governor, Satya Pal Malik approved the‘Jammu and Kashmir Transport Subsidy Scheme’ for replacement of 500 old dieselvehicles operated by private transporters including buses, matadors and minibuses. The scheme has been conceived in light of the budget-2019-20announcements with Rs 25 Crore earmarked for the purpose. To begin with, thescheme will be implemented in Srinagar and Jammu cities with replacement of 250old diesel vehicles each in Srinagar and Jammu by modern buses which are ecofriendly, comfortable, fuel efficient and fitted with modern safety gadgets i.ecompliant to BS-IV and above norms.

The Transport Department in consultation with the Finance Departmentwill propose a standardized procedure to be followed for replacement of thevehicles.

 The applicant afterapproval shall be allowed a three months time to purchase the new vehicle afterentering into a loan agreement with the concerned bank and the subsidycomponent shall be given on capital investment after purchase of vehicle andits subsequent registration.

 The scheme ofextending subsidy to the transporters shall have many consequential benefits interms of curtailing air pollution in the twin capital cities amidst rising carownership and in reducing traffic congestion by providing impetus to the publictransport system.