AP govt tables World Bank power agreement in assembly

SEPT 6: As the issue triggered off uproarious scenes in the Assembly, Chief Minister N Chandrababu Naidu put up a spirited defence of the ...

SEPT 6: As the issue triggered off uproarious scenes in the Assembly, Chief Minister N Chandrababu Naidu put up a spirited defence of the agreement saying the loan was aimed at strengthening the power transmission and distribution system, control thefts and pilferages, improve efficiency and ensure quality power supply.

The proceedings were stalled for over two hours as tempers ran high and a bitter war of words broke out between Naidu and Congress leader Y S Rajasekhar Reddy who alleged that the recent power tariff hike was part of the conditions imposed by the World Bank and challenged the government to conduct a referendum on the issue.

Rejecting the charge that the lending agency was directly interfering with the state’s policy matters, Naidu said the 12.5 per cent rate of interest offered by the World Bank was the lowest compared to any other domestic or international funding institution. He offered to "cancel the agreement forthwith" if opposition parties could suggest any other lending agency offering a lesser interest rate.

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"The revision of power charges (in June last) has nothing to do World Bank loan. We had taken this decision in the long term interests of the state and the power sector," the Chief Minister said.

Along with the loan agreements, the project appraisal document of the World Bank for the A P Power Sector Restructuring Project (APPSRP) was also made public today.

Soon after the State power minister K Subbarayudu tabled the documents at the fag end of Zero Hour, the Congress, CPI (M) and MIM members sprang to their feet and demanded a discussion on the agreements.

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