Andhra Pradesh - Hyderabad   

3 PPAs will be reviewed: YSR

By Our Special Correspondent

HYDERABAD, MAY 26. The Chief Minister, Y.S. Rajasekhara Reddy, today said that power purchase agreements (PPAs) entered into by the Government with at least three companies would be reviewed in the next two to three weeks.

Speaking to journalists here, he said a huge saving would accrue through this review. The Comptroller & Auditor General (CAG) report had stated that the difference in the cost allowed to M/s. Spectrum and GVK and the public-owned APGPCL was more than Rs. 200 crores.

Dr. Reddy said the Congress Government's perception of World Bank loans and reforms was different from that of the Left parties. It was not averse to loans though it strongly opposed the conditionalities that were not pro-poor. The Chief Minister disagreed with a suggestion that the spurt in suicides by farmers could be attributed to the ex gratia announced by the Government. Answering a question, he said his Government was confident of spending Rs. 9,200 crores on irrigation projects annually for the next five years. Already, a funding agreement for Rs. 2,500 crores had almost been finalised with the LIC.

The Chief Minister announced that the Janmabhoomi programme stood scrapped.

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