Chandrababu Moving Court Is Not In Public Interest

Hyderabad, Sept 13: Finding fault with the Chandrababu Naidu Government going for an appeal against the court verdict finding fault with the Swiss Challenge mode in capital formation, YSR Congress has said that all the facts should be made public in the state interest.
‘Swiss Challenge had drawn flak on earlier occasion as well and with the court ruling that it is faulty, TDP government should tell as to how the state would benefit with the method and the comment that the cart is being placed before the horse should be taken seriously,’ party MLA Kakani Goverdhan Reddy told reporters here on Tuesday.
There was no reason as to why the state should keep the terms of contract a secret but on the other hand should justify as to why it was given to the Singapore company and if a level play field was created while inviting the bidding. Whether the terms were of public interest, private interest or personal interest should come out if all the details are made public.
The government moving the court to bring in a stay shows the mercantile activity and lack of transparency of the deal. With the state investing 12,000 crores taking 42 % and Singapore companies getting 58 % for a meager investment of Rs 320 crores makes it clear the quantum of irregularities and the scale of corruption, he said.
‘Chandrababu Naidu being very adamant on the Swiss Challenge issue and according contract to the Singapore companies with undue favours points that he has personal interests in the deal as there was underselling.  We demand that all details of the deal should be made public with proper justification,’ he said.
Chandrababu Naidu was given the Best Businessman Award and his mercantile activity has been in full play in the capital formation even at the cost of the people of the state. While he boasts of creating HiTech City, it was Chandrababu Naidu who has closed down 56 companies during his tenure.
His concern is only about the commercial element of the contract with Singapore companies but not the state interests as the terms are heavily loaded in favour of the foreign companies and has violated many norms, he said.

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