Kavitha fires salvo at TG govt for plotting to mortgage TGIIC lands

Highlights

Alleges that the State govt borrowed `1.8 lakh crore in the past 16 months, using `1 lakh crore to pay bills

Hyderabad: BRS MLC K Kavitha on Monday alleged that the Telangana government was planning to convert the Telangana Industrial Infrastructure Corporation (TGIIC) into a public company and was conspiring to mortgage 1.75 lakh acres in the stock market.

Addressing a press conference at Telangana Bhavan, Kavitha alleged that the State government had taken loans to the tune of Rs 1.8 lakh crore in last 16 months only to pay bills of Rs 1 lakh crore to big contractors. She further alleged that CM Revanth Reddy had taaken 20 per cent commission for the bills paid to contractors, and accumulated Rs 20,000 crore in his own treasury. “Huge bills were paid to a company belonging to a State minister and to Megha Engineering Infrastructure Limited (MEIL) Company. I have specific evidence in this regard,” she said.

Kavitha alleged that the State government issued a secret GO to convert TGIIC from a private limited company to a public limited company. The government’s idea was to take loans of thousands of crores through the stock exchange by changing the status of the company. She asked the government to explain what was the need to mortgaging Telangana lands on the stock exchange? She was furious that Chief Minister Revanth Reddy was not thinking about the future of the people of Telangana. She demanded that the government withdraw its decision to convert TGIIC into a public limited company.

Meanwhile, Kavitha recalled that CM Revanth Reddy incurred debts of more than Rs 1.8 lakh crore in the last 16 months of his rule, but did not implement any scheme. She said, “The government has not fully implemented a single scheme with the debts incurred, nor had he spent it on development. Only Rs 80,000 crore was utilised by the government to repay the loans taken by the previous government.”

She asked the government to explain where the remaining Rs 1 lakh crore had gone. She said that if she was wrong, the government should release a white paper.