Let L&T Go, We Will Find Someone Else to Run Metro, Says Revanth
HYDERABAD: Chief Minister A. Revanth Reddy on Tuesday dismissed L&T's warning that it was considering selling the Hyderabad Metro Rail project as it was facing losses due to the state government’s Mahalakshmi free bus scheme for women. L&T operates the Hyderabad Metro Rail, which it built in a public-private partnership mode.
When this newspaper brought L&T’s plan to his notice, Revanth Reddy replied, "We are not bothered about L&T's profits and losses. Let them go. We will explore other options. If one contractor goes, another contractor will come. It's not a big deal."
R. Shankar Raman, L&T president, whole-time director and chief financial officer, had recently stated that Hyderabad Metro Rail ridership had been adversely affected by the Mahalakshmi scheme as women preferred RTC buses over Metro Rail and that L&T was considering exiting the project due to losses,
During an informal chat with media persons at his residence, the Chief Minister said that the Congress government worked for the welfare of people and not corporates. "The Mahalakshmi scheme is a huge hit. Every day, nearly 30 lakh women utilise free bus travel on average. We can't stop this scheme just because L&T is facing losses.".
Referring to Shankar Raman's remark that the free bus ride scheme was not 'sustainable', Revanth Reddy said, “Governments do not function like corporates. They don't look at balance sheets or profits and losses in whatever they do. Welfare of people, especially women, is the top priority of the Congress government. We will continue this scheme come what may. We are reimbursing funds to TSRTC every month promptly and ensuring that TSRTC does not land in a financial crisis due to the free bus scheme."
