Business / Companies
ZUPCO on the brink of collapse
31 Dec 2011 at 09:31hrs | Views
The commuting public has been calling on government to recapitalise Zimbabwe United Passenger Bus Company (ZUPCO) which is on the brink of collapse.
Local Government Rural and Urban Development Minster, Dr Ignatius Chombo has admitted that govt is not prepared to bail ZUPCO out. Chombo acknowledged that the urban transportation system has dramatically changed with most people preferring commuter omnibuses.
ZUPCO has been in financial challenges for a long time requires a capital injection of US$60 million.
Apart from having old fleet of buses the company is also failing to pay its workers.
Local Government Rural and Urban Development Minster, Dr Ignatius Chombo has admitted that govt is not prepared to bail ZUPCO out. Chombo acknowledged that the urban transportation system has dramatically changed with most people preferring commuter omnibuses.
ZUPCO has been in financial challenges for a long time requires a capital injection of US$60 million.
Apart from having old fleet of buses the company is also failing to pay its workers.
Source - Byo24News
