Chief Minister, Jagan Mohan Reddy, who stalled the progress of the capital has raised Rs 3,013 cr loans from various banks in the name of Amaravati through the Capital Region Development Authority (CRDA) and this is nothing but deliberately cheating the banks, observed TDP spokesperson, Kommareddy Pattabhiram, on Saturday.
Talking to media persons at the party headquarters Pattabhiram termed Jagan as a big cheat than Vijaya Malya and Neerab Modi. “In December 2019 itself Jagan made a statement on the floor of the Assembly that the capital is going to be shifted to Visakhapatnam from Amaravati and henceforth Vizag will be the executive capital of the State. But in the name of Amaravati he raised loans from the banks and this amounts to nothing but cheating the banks,” Pattabhiram remarked.
All the details as to how Jagan raised loans from the banks in the name of Amaravati are available on page number 50 in the report of the CAG for the financial year 2019-20, Pattabhi said and added that since interest on these loans has not been paid the bank officials went to the CRDA office and questioned the officials there.
During Chandrababu Naidu regime the CRISIL has given A(+) rating for the CRDA but after Jagan Mohan Reddy became the Chief Minister the rating of the CRDA is A(-), he pointed out.
“There is no minimum balance in the CRDA bank accounts to pay even the interest on the loans and thus the CRISIL gave this rating for the organisation,” Pattabhi stated. During Chandrababu’s regime, there was not even a single instance where the banks demanded or questioned the government officials to repay the loan amount or even interest, he said.
Raising loans in the name of Amaravathi really shocked the people of AP as till yesterday Jagan claimed Vizag to be the executive capital, he observed. It is really shameful that the CRDA officials, including its commissioner, could not face the bankers when they visited the office for loan recovery, Pattabhiram remarked.
Jagan raised a total of Rs 3,013 cr from various banks including the Punjab National Bank, Indian Bank and the Union Bank literally in the name of building the capital and this is nothing but looting these banks in the name of Amaravati, pattabhi observed. The prestige and the future of the State are at stake now and no bank will, in future, extend any loan to AP, Pattabhiram noted.
