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This is an archive article published on December 19, 2006

CPI sees red over Kerala ADB loan

The Rs 3,405-crore loan deal that Kerala8217;s Left government signed with the Asian Development Bank has run into rough weather.

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The Rs 3,405-crore loan deal that Kerala8217;s Left government signed with the Asian Development Bank ADB has run into rough weather. Both Chief Minister VS Achuthanandan and the CPI are refusing to play ball.

The state council meet of the CPI in Thiruvanantapuram on Monday resolved that all ADB loans have strings attached, and there is no reason to believe that the deal signed by the Left government two weeks ago is any different. The council asserted that the matter should first be debated by the Left Democratic Front LDF state committee. The resolution adds that the CPI will strongly oppose all major decisions that are not discussed in the cabinet first.

The CM claims the loan papers were inked by an IAS officer on behalf of the state government in New Delhi and he has no clue about it. The papers were pushed by Local Administration Minister Paloli Mohammed Kutty, a close lieutenant of VS8217;s arch rival and state CPM secretary Pinarayi Vijayan.

Achuthanandan has now ordered the state chief secretary to probe how the loan application was processed and formalised without his knowledge.

A senior CPM leader in the rival camp alleged: 8220;Flaying the loan would add to the CM8217;s profile and give out the impression that he has not moved away from his anti-ADB stand. More importantly, it could show everyone else in poor light.8221;

 

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