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Journalism of Courage
PUNE, Jan 28: Even as the proposal of floating public bonds for the mega-water supply and sewerage scheme has been dropped in the draft budget for 1999-2000, Municipal Commissioner Rajiv Agarwal is toying with the idea of attracting funds for the ambitious project by raising public bonds with the help from ICICI.
Highly placed sources today told The Indian Express that the civic officials had already held talks with ICICI representatives a few days ago. Agarwal has reportedly asked the ICICI to prepare the feasibility report of the scheme, designed to meet the increasing water needs of the city. Agarwal plans to get a formal approval from the standing committee. The PMC has little option but to opt for public bonds. It is expected to get a green signal from the Reserve Bank Of India as former municipal commissioner Ramanath Jha had already initiated the process The scrutiny committee, comprising of additional city engineer (water supply) V G Dhadphale and retired additional city engineer H D Rao,may submit its report next week.
