Saturday, May 18, 2024
More
    HomeHyderabadBombshell dropped by PFC in Hyderabad

    Bombshell dropped by PFC in Hyderabad

    Related stories

    CS Santhi Kumari conducts a meeting to review progress of ‘Amma Adarsha Patashala’ initiatives

    Telangana State Chief Secretary Santhi Kumari instructed district authorities...

    Kisan Cong calls on Kishan Reddy to ensure central funds for Telangana

    Kisan Congress national vice president Kodanda Reddy criticized Union...

    Did BRS rebels collaborate with BJP to ensure Congress downfall?

    Reports from Rangareddy suggest that BRS votes in seven...

    Hyderabad Braces for Heavy Rains, Public Urged to Stay Alert

    The Meteorological Center of Hyderabad has issued a warning...

    The Kaleshwaram mega project in Hyderabad, known as the world’s largest lift irrigation project, is at risk of being declared a non-performing asset (NPA). The state government has been struggling to pay the loan it took from the Power Finance Corporation (PFC), with Rs 1,400 crore in dues and missed installments.

    Due to financial challenges in the last quarter of the previous financial year, the government has been unable to make payments. The new Congress government, which took office in December, inherited financial difficulties from the previous administration.

    - Advertisement -

    The previous government borrowed heavily from institutions like the Rural Electrification Corporation and PFC to fund the Kaleshwaram project. The PFC has warned of consequences if payments are not made, adding financial burden to the government.

    Also read:  Government launches campaign to raise funds

    The delay in loan repayment could lead to penalties and interest accruing, as per the agreement made with the corporation. The loan repayment period is set for 25 years, with the government relying on revenue generated from the Kaleshwaram project to cover costs.

    - Advertisement -

    Follow us

    3,565FansLike
    179FollowersFollow
    1,202FollowersFollow
    965SubscribersSubscribe

    Contribute News

    You can contribute an article to Telangana Tribune by dropping a mail at newsdesk@telanganatribune.com

    Latest stories

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here