Singareni completely destroyed by BRS Government: Union Coal Minister Kishan Reddy criticizes

Union Coal Minister G. Kishan Reddy criticized the BRS government for completely destroying Singareni. He was speaking at a press conference organized at the Telangana BJP state party office.

Singareni is not just a Telangana…one of the top public sector institutions in the country. The previous BRS government damaged Singareni economically and morally with its flawed decisions.

As on April 1, 2014 under the regime of BRS, Singareni Bank accounts had Rs.3,500 crores. Before 2014, the Singareni company used to dominate the banks.. It used to offer the banks who would get the highest interest rates.

Before 2014, the salaries of the employees were not cut even once. But KCR has brought Singareni into debt with chaotic decisions and has brought the employees to a situation where they cannot pay their salaries on time, said the minister.

Sh. Kishan Reddy said that Singareni would not have been in this situation if electricity dues had been paid on time during KCR’s rule. Funds were also not given to the companies supplying electricity to Singareni on time.

Electricity companies are running losses due to non-payment of subsidy bills. The KCR government has not paid Singareni even the arrears with 6 percent interest.