News / National
Zupco to lose four buses, car
08 Dec 2018 at 14:46hrs | Views
Four buses belonging to the troubled Zimbabwe United Passengers Company Limited (Zupco) are set to go under the hummer to offset a debt.
Apart from the four buses, the public transport operator is also set to lose an Isuzu KB250LE truck after losing a High Court case against Shashe Logistics.
"Duly instructed by the Sherrif of the High Court of Zimbabwe, we shall sell by Public Auction the following vehicles to the highest bidder within our premises on Saturday 15th December 2018 at 10am," Ruby Auctions said in a statement.
Until the early 1980s, Zupco was arguably the single largest bus services operating in the country both in terms of size of fleet of buses and the spread of operations throughout the country.
Zupco has not been receiving assistance from Treasury for over a decade now and the parastatal is wobbling on the verge of collapse due to under capitalisation.
Early this year, government was pursuing different funding options, including partnering private investors, to re-capitalise the Zupco under a Public-Private Partnership model.
An estimated one million commuters use urban public transport countrywide daily.
Apart from the four buses, the public transport operator is also set to lose an Isuzu KB250LE truck after losing a High Court case against Shashe Logistics.
"Duly instructed by the Sherrif of the High Court of Zimbabwe, we shall sell by Public Auction the following vehicles to the highest bidder within our premises on Saturday 15th December 2018 at 10am," Ruby Auctions said in a statement.
Until the early 1980s, Zupco was arguably the single largest bus services operating in the country both in terms of size of fleet of buses and the spread of operations throughout the country.
Zupco has not been receiving assistance from Treasury for over a decade now and the parastatal is wobbling on the verge of collapse due to under capitalisation.
Early this year, government was pursuing different funding options, including partnering private investors, to re-capitalise the Zupco under a Public-Private Partnership model.
An estimated one million commuters use urban public transport countrywide daily.
Source - dailynews
