THIRUVANANTHAPURAM: The foreign loan offered for Silverline is a deception by funding agencies that present it as a sweetener, former Railways chief engineer Alok Kumar Verma said here on Wednesday. At a parallel debate on SilverLine, organised by the People’s Resistance Council, Verma said the Railway Board should withdraw the in-principle nod given for the semi-high-speed rail project. The foreign loan would be a burden on the state, he pointed out.
Referring to loans offered to some other countries, Verma said if foreign agencies want to invest in developmental projects, they should opt for equity. He pointed out that the railway ministry had made it clear that the loan is to be repaid by the state government. All liability will have to borne by Kerala, he said.