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Telangana, India (Metro Rail Today): Telangana Government has formed a high-level committee of Ministers and senior officials . They will look into the pros and cons of supporting the loss-making Hyderabad Metro Rail.
The Government took this decision after the L&T made several requests to it, seeking support as the elevated rail corridor had incurred heavy losses due to the COVID-19 pandemic and lockdown. The L&T Operates Hyderabad Metro Rail.
K Chandrashekhar Rao ( Chief Minister) held a review meeting with ministers, officials of the government and L&T Metro Rail.
According to the L&T Metro rail’s latest annual report, the metro rail’s revenues from operations and other income in the last financial year stood at Rs 228 crore. The firm’s losses raised to nearly Rs 1,767 crore in FY21 from the previous year’s Rs 382 crore on account of disruption in the metro rail operations. This happened due to low ridership and fall in footfalls at real estate operations.
Gujrat Chief Minister CM Said,
The state government would come to the rescue of the prestigious Hyderabad Metro project as it did for other sectors. Measures would be taken not only to support Hyderabad Metro but also to rejuvenate it
The committee will have Municipal Administration Minister KT Rama Rao and R&B Minister Vemula Prashanth Reddy, among other senior officials as members. CM has said the panel to submit soon its report on how to save Hyderabad Metro from incurring losses after thoroughly studying all the aspects.
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