Place MoUs on public domain: Dharmana

Hyderabad, Demanding the TDP Government to place all MoUs signed with various foreign investors on public domain as there are apprehensions about the deals, YSR Congress has said the terms should not be taxing on the coming generations and beyond law of the land.

“We understand that the State Government has signed numerous MoUs with industrialists of other countries and there are doubts that there are some clauses which are heavily loaded in favour of the investors. To allay all fears, the details of the MoUs should be shared with the main opposition party and they should also be placed on public domain,” party senior leader Dharmana Prasada Rao told reporters here on Saturday.

Reviewing the nine-year term of Chandrababu Naidu ending 2004, the industrial growth has taken a dip of 1.5 % and not a single major industry has come up in the State, despite numerous international summits, conventions and travels. It was only publicity that has given a rosy picture pushing hard facts under the carpet. We wish that history should not repeat, he said.

“To be transparent, we demand that the State should open up all the MoUs it has signed with the three countries during the past 11 months. We are not against securing foreign investments but the people should not pay the penalty for years together for some faulty clause in the agreement.

There are also apprehensions that the law of the land does not apply to the investors of the three foreign countries which is not acceptable. In the MoU for SriCity we stand to lose on VAT as the ancillary units are placed in the neighboring Tamil Nadu and to clear the air, we demand that all information should be available in the government websites,” he said.

TDP has no clear industrial policy which makes the things easier for one-sided MoUs. The State is after foreign investors despite having local talent. We have very successful entrepreneurs in cement and energy sectors, yet the State is obsessed with foreign companies, he said
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