VIJAYAWADA: Refuting allegations of corruption levelled by former MP Undavalli Arun Kumar over Amaravati Bonds, AP Planning Board vice-president C Kutumba Rao has said that he is ready for a debate with the former at any time. He reiterated that he is ready to resign from his post if the corruption charges ovr the bonds are proved.
He was speaking to reporters at the Interim Government Complex in Velagapudi on Wednesday.
“We will provide whatever information Undavalli needs and he can enter into a debate after going through the details on Amaravati Bonds and on the Polavaram project. I will be in the Interim Government Complex and ready for a debate on the issue at any time,” Rao asserted.
The government has paid 0.85 per cent as arranger fee in Amaravati Bonds, he said, adding it was ready to pay 1.70 per cent as fee if anyone arranges loan at less than 10.32 per cent interest.
Municipal Administration Minister and CRDA vice-chairperson P Narayana told the AP Legislative Council and Assembly about the interest rates on loans as per rating. “It is unfortunate that a person such as Undavalli, who is aware about financial issues and increase in interest due to declining value of Indian rupee against US Dollar, is making such allegations,” he said.
Brushing aside the former MP’s charges that the State government is making payment of bills before completion of works, Rao said though Undavalli was aware of the bill payment procedures, he was confusing people by making such remarks. “Are you finding fault with Polavaram Project Authority, a Central agency, on bill payment?” he asked.
On the remarks that the government spent `1.80 crore for ringing the opening bell in Bombay Stock Exchange for issuing Amaravati Bonds, Rao said the purpose of Naidu’s visit to Mumbai was not limited to only ringing the bell. Naidu held meetings with investors. “Can we hold meetings with investors at tea kiosks?” he asking, suggesting Undavalli to file an RTI application to get the expenditure details.