Revanth Reddy blames KTR for delay in Hyderabad Metro Phase II expansion
Chief Minister A. Revanth Reddy alleged that BRS leader K.T. Rama Rao was behind efforts to delay Hyderabad Metro Phase II expansion. He claimed a Rs 13,600-crore loan was being blocked for political reasons despite all formalities being completed.
Hyderabad: True to the adage that a poor craftsman always blames his tools, Telangana Chief Minister A Revanth Reddy has now begun blaming the Bharat Rashtra Samithi (BRS) the delay in in Hyderabad Metro Phase II expansion works. Till recently Revanth Reddy held union Minister G Kishan Reddy responsible for the delay.
However, for inexplicable reasons, Revanth Reddy has come up with a wild allegation on Monday that it was the BRS working president K T Rama Rao who was behind the entire conspiracy to delay the metro works. Revanth Reddy came up with a startling accusation: “I am making a straight allegation that KT Rama Rao is behind this conspiracy. Kishan Reddy is acting at the behest of KT Rama Rao as he [the former] is not that intelligent.”
The Chief Minister’s comments came at a press conference in the Secretariat taking the political observers by surprise. The Chief Minister maintained that the formalities to secure Rs.13,600 crore loans from a Japanese organization through Indian Railway Finance Corporation (IRFC) were completed. The Japanese organization has already deposited the amount in IRFC’s account, he disclosed. “However, Kishan Reddy was opposing the loan disbursement with political motives. Today, is the last date for IRFC to release the amount. Will Kishan Reddy facilitate the release before 5 pm,” Revanth Reddy asked.
The Telangana government had taken over the Hyderabad Metro Rail from L&T and this agreement into effect from June 1. The Japanese organization had approved the loan disbursement at 4 percent interest. This helps the State government to save substantially the interest component, he said. “At present, the L& T was suffering Rs.450 crore losses. If this loan is disbursed it will make the Hyderabad Metro a profit making unit from loss making entity. The reduction in interest rate from 8.25 percent to 4 percent, will help save Rs.150 crore annually,” Revanth Reddy said.
But the union Minister was creating hurdles with political motives. He has influenced his office in prevailing upon on the union government to hold the loan disbursement, he charged, adding that BJP State president N Ramchander Rao was also falling in this trap and abusing him.
The State government has even appealed to the union Government to issue NOC for taking up the Metro expansion works on its own, Revanth Reddy realled adding: “When I met union Minister Khattar I told him that if there is any compulsion on not extending 50 percent funding for Metro expansion, the union government could at least issue NOC,” he said.
If the loan amount was not disbursed, the State government would have to work out alternate options. The IRFC approved the loan with four percent but other organizations could levy more interest and this could add more financial burden, he added. “I do not want to complicate the issue. There are no technical issues for the delay but for political conspiracy,” Revanth Reddy maintained.
