VIJAYAWADA: CPM state secretary P Madhu on Wednesday came down heavily on the state government for preparing to allot assets of the APSRTC to private companies on 49 years lease.
In a statement here, the CPM leader said that there was an inherent danger of the private companies, after the expiry of the lease period, moving courts, staking a claim on the ownership of the assets.
The government was trying to lease out 226 lakh sq ft of land belonging to RTC to private companies at throw away amount. The terms of the lease agreements were heavily loaded in favour of private companies like allowing them to seek extension for 25 years, after the expiry of 49 years, were not in the interests of the APSRTC. This apart, equally reprehensible was the decision of the APSRTC to reduce deposit amount from 10 to 5 per cent and lease fee from 10 to 5 per cent. This is meant for benefiting some private companies, he said.