T’gana Govt Refuses To Help Hyderabad Metro Rail To Overcome Heavy Losses

T’gana govt refuses to help Hyderabad metro rail to overcome heavy losses

The Telangana government has refused to help L&T Hyderabad Metro Rail Limited to overcome the heavy losses.Due to the covid lockdown and restrictions, the Hyderabad Metro rail has incurred heavy losses since March 2020.

 T’gana Govt Refuses To Help Hyderabad Metro Rail To Overcome Heavy Losses-TeluguStop.com

In this context, the L&T Hyderabad Metro Rail Limited has requested the Telangana government to provide financial assistance to mitigate these losses.But, the Telangana state government has refused to help the Hyderabad Metro Rail.

According to official sources in the Telangana state Finance Ministry, L&T HMRL has sought financial assistance from the state government to mitigate losses in metro management due to Covid.However, official sources in the Finance Ministry said that the government has not been able to extend assistance to L&T HMRL, citing the self-financing crisis it has been facing since March 2020.

The official sources said that the state government was incurring debts every month to raise revenue for salaries, pensions, welfare schemes and development programs.Also, it said that the Telangana state government could not afford to lend to the metro rail under these circumstances.

Metro trains have been limited to stations for 169 days from March 2020 due to Covid lockdowns and restrictions.

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