Friday, Dec 17, 2004
Friday, Dec 17, 2004 |
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Advts: Classifieds | Employment | Obituary | Kerala
By Our Staff Reporter
THIRUVANANTHAPURAM, DEC. 16. The five municipal corporations in the State today informed the Government that they would not foot the repayment liability for financial assistance from the Asian Development Bank (ADB). At a meeting convened by the Chief Secretary, Babu Jacob, to sort out the confusion over the terms and conditions of the ADB loan, the five Mayors insisted that the Government shoulder the repayment burden. Arguing that the interest burden would be unaffordable for the local bodies, they demanded that the assistance should be released as grant.
Financial burden
Pointing out that the ADB loan was intended for priority projects like solid waste management, sewage and surface drainage which do not yield returns, they said it would leave the Corporations struggling with a huge financial burden. The meeting concluded without reaching an agreement. The Thiruvananthapuram Mayor, J. Chandra, said the Chief Secretary had expressed his inability to commit himself on the issue. "He has promised to present our demand before the Government. We will wait for the response," she said. The ADB had offered an assistance of Rs.1,250 crores for the five municipal corporations under the Kerala Sustainable Development Project. The civic bodies allege that the Government had gone back on its word to shoulder the repayment burden.
Contradictory remarks
The contradictory statements issued by the Minister for Local Self-Government, Kutty Ahmed Kutty and the Finance Minister, Vakkom Purushothaman, added to the confusion over the repayment terms. While Mr. Ahmed Kutty assured the local bodies that they would not have to assume responsibility for repayment, Mr. Purushothaman said the Corporations would have to settle their liabilities if the ADB loan was accepted.
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