More financial woes are on the horizon for the 14 year old state-run Jamaica Urban Transit Company, JUTC.
The entity is projected to rack up a loss of more than two billion dollar this fiscal year.
A report on public bodies tabled yesterday in Parliament shows that the bus company will remain in the red despite an increase in fares.
The entity is expecting to earn 3-point-7 billion dollars from fares up from 3-point-1 billion in 2011/2012.
Another 335 million dollars will come from charters and providing other services.
But this will not cover the JUTC's expenses and operating loss which will leave it 2-point-4 billion dollars in the red up from 2-point-3 billion in the financial year ended March 31.
The rising cost of fuel and maintaining the buses will push up expenses to 6-point-4 billion dollars.
Given the gap between revenue and expenditure the Government will provide the JUTC with financial support in the form of cash subsidies, tax waivers as well as debt assumption and write-offs.
It's forecast that the company will see passenger numbers of 58 million a 5 percent rise over the 55 million recorded in 2011/2012.
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