YSRCP Chief, AP CM YS Jagna has given a sweet warning to APGENCO.In a recently concluded meeting with the top brass of APGENCO, YS Jagan asked to come with reforms to transform that will transform the debt-ridden APGENCO into no-debt.‘At the first phase, we want all the government corporations and industries to get rid of debts.
The transformation phase will be tricky and difficult.
However, we need to be well prepared for this’, said AP CM YS Jagan post the meeting.According to official sources, AP CM YS Jagan asked the APGENCO officers to find means and ways to bring back the company onto the green track.
Reportedly, AP CM YS Jagan urged APGENCO to be away from taking loans at high-interest rates.‘AP CM YS Jagan asked APGENCO to refrain from taking loans paying high interest and purchasing power at a higher rate.
We were asked to go ahead and buy power from other sources if we get at a lower price’, APGENCO official said.
Currently, APGENCO is paying an interest of Rs 7,000 Crores as interest alone, for the Rs 70,0000 debit it owns to various financial institutions.