Hyderabad: Pandemic has dealt a crushing blow to Hyderabad Metro which has incurred huge losses due to service suspension and fewer passengers. Chief Minister K Chandrashekhar Rao has assured all help for its turnaround.
KCR told L&T officials that the government would support Hyderabad Metro Project. This follows L&T's request for help and support.
L&T officials had a meeting with the CM on Tuesday at Pragathi Bhavan. They discussed financial losses, bank loans repayment, and mounting interests. They urged the government to come to their rescue.
"Within a short span of time, Hyderabad Metro became a popular public transport system. Like other sectors, Hyderabad Metro also suffered due to the pandemic. Metro rail services are very necessary for Hyderabad which is growing at a fast speed. There is a need to expand the metro services in the future. It is distressing that pandemic has pushed Metro Rail into financial crisis and it was made to pay compound interests," he said.
He said 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.
He said in the public interest, the government has to make some decisions. The CM said measures would be taken not only to support Hyderabad Metro but also to rejuvenate He said a high-level committee would be formed to study the matter and formulate a policy.
Municipal Administration Minister KT Rama Rao, R&B Minister Vemula Prashanth Reddy, Government's Chief Advisor Rajiv Sharma, Chief Secretary Somesh Kumar, CM Principal Secretary S Narsing Rao, Finance Special Chief Secretary Ramakrishna Rao, MAUD Spl Chief Secretary Arvind Kumar, and Principal Secretary (Industries) Jayesh Ranjan will be members of the committee.
The CM has instructed the Committee to submit its report soon with recommendations on how to save Hyderabad Metro from incurring losses.