No politics behind Hyderabad Metro loan delay, Kishan Reddy rejects Revanth’s charges
Union Minister G Kishan Reddy dismissed Chief Minister A Revanth Reddy's allegations of political interference in the Hyderabad Metro refinancing loan, stating that the delay stemmed from technical issues relating to loan repayment priorities and required discussions between the Centre and the State
Hyderabad: Refuting Chief Minister A Revanth Reddy‘s allegations over the delay in the disbursement of the Hyderabad Metro refinancing loan, Union Minister G Kishan Reddy said the delay was due to technical reasons and had nothing to do with politics.
Stating that metro rail corporations across the country do not prioritise loan repayments over operations and maintenance (O&M) requirements, Kishan Reddy said revenue generated by metro services should first be utilised for O&M expenses before servicing debt obligations.
“However, the government wanted loan repayments to be prioritised using the revenue earned by the Metro. I emphasised that O&M requirements must come first to ensure Metro’s sustainability. The Chief Minister, however, did not agree to this,” Kishan Reddy said at a press conference in New Delhi on Tuesday.
He said it was unbecoming of a Chief Minister to make such allegations without substantiating them. “Can Revanth Reddy name the Minister who allegedly told him that Kishan Reddy wanted the funding to be stopped?” he asked.
He noted that the Telangana government had entered into an agreement to secure Rs 13,500 crore and that the matter should be resolved through discussions among the stakeholders concerned. The Union Minister further stated that the Chief Minister had met Union Minister Manohar Lal Khattar several times regarding the issue and that certain modifications had been suggested. The pending issues were technical in nature and required discussions between the Centre and the State government, he said.
“Projects do not come to a halt simply because Kishan Reddy wants them stopped. When I spoke with ML Khattar today, it became clear that neither side has complete clarity on the loan issue. This matter needs to be discussed and resolved,” Kishan Reddy said.
He maintained that issues relating to the Metro Phase-I loan and the Centre-State partnership for Phase-II should be finalised through dialogue rather than public criticism. Revanth Reddy was attempting to divert public attention and cover up his government’s failures, he alleged. “Neither I, nor Prime Minister Narendra Modi, nor the Central government require certificates of approval from the Congress party or Revanth Reddy. I am accountable to Telangana people,” the Union Minister added.
Kishan Reddy asserted that the Centre was extending full cooperation to Telangana across sectors. He cited the recent sanction of Rs 11,000 crore in interest-free loans with a 50-year repayment period and facilitation of a Rs 4,100-crore loan from the Asian Development Bank for rejuvenation of Musi river as examples of the Union government’s support.
