Chief Minister Sri K. Chandrashekar Rao said that the state government would explore the possibilities of helping Hyderabad Metro, as it was in heavy losses due to less traffic on account of the Corona pandemic.
The CM gave assurance to the L&T higher officials that the government would support Hyderabad Metro Project and help it to be back on track. The L&T higher officials have made repeated requests to the government to support them as Hyderabad Metro Project had incurred heavy losses due to the Corona pandemic. In this regard, the L&T Officials had a meeting with the CM on Tuesday at Pragathi Bhavan with a request that the state government should support the Hyderabad Metro. The L&T officials discussed the financial losses of the Metro, Bank loans repayment, the mounting interest’s day by day and urged the government to come to their rescue.
In this meeting, Home Minister Sri Mahmood Ali, R&B Minister Sri Vemula Prashanth Reddy, Nizamabad Rural MLA Sri Bajireddy Goverdhan, Yellareddy MLA Sri Surender, Government’s Chief Advisor Sri Rajiv Sharma, Chief Secretary Sri Somesh Kumar, CM Principal Secretary Sri S Narsing Rao, MA&UD Special Chief Secretary Sri Arvind Kumar, Finance Special Chief Secretary Sri Ramakrishna Rao, L&T CEO and MD Sri Subramanyam, Sri NVS Reddy, L&T Director Sri DK Sen, Projects CEO Sri Ajith, Hyderabad Metro CEO Sri KVB Reddy, and others participated.
Speaking on the occasion, the CM said, ”Within a short span of time Hyderabad Metro by providing safest travel services, became a popular public transport system. The Corona pandemic had an adverse impact on Hyderabad Metro as it did for other sectors. For Hyderabad, which is growing day by day, metro rail services are very necessary and there is a need to expand the metro services in the future. It is regrettable that the Corona Pandemic situation forced the Metro Rail project into a financial crisis and it was made to pay compound interests. The state government would come to the rescue of the prestigious Hyderabad Metro project as it did for other sectors. He said the state government would examine the possibilities. In accordance with the public needs, the government has to take out of the box decisions during difficult times like the Corona pandemic situation. The CM said measures would be taken not only to support Hyderabad Metro but also to rejuvenate it. To study the matter extensively, weigh pros and cons and arrive at a policy, the CM said a high-level committee would be formed.
In this committee, Municipal Administration Minister Sri KT Rama Rao, R&B Minister Sri Vemula Prashanth Reddy, Government’s Chief Advisor Sri Rajiv Sharma, Chief Secretary Sri Somesh Kumar, CM Principal Secretary Sri S Narsing Rao, Finance Special Chief Secretary Sri Ramakrishna Rao, MA&UD Spl Chief Secretary Sri Arvind Kumar, Principal Secretary (Industries) Sri Jayesh Ranjan will be there.
The CM has instructed the Committee to submit its report shortly on how to save Hyderabad Metro from incurring losses after thoroughly studying all the aspects.