L&T to quit Hyderabad Metro? Here’s what CM said.
“They (corporates) 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,” Revanth Reddy said.
Revanth Reddy said that If Larson & Turbo (L&T) India wants to exit the Hyderabad Metro project which is due to the Mahalakshmi free bus ride scheme and its successful implementation, they are welcomed to quit.
Speaking to reporters at his residence on Wednesday, May 15, the chief minister affirmed that the Congress guarantee, which offers free bus rides to women and transgender individuals, will not be halted due to losses incurred by the Metro rail.
L&T to quit Hyderabad Metro? Here’s what CM said.
“We are not concerned about L&T’s losses or profits. They can leave if they wish. The state government will explore other options. If one contractor departs, another will take their place. It’s not a big deal,” Revanth stated.
On May 11, L&T suggested a potential exit from the project after 2026. L&T President, Director, and CFO R. Shankar Raman mentioned that while women travelers are favoring the new free bus ride scheme, men are switching to the railway wagons. He pointed out that the scheme is unsustainable because, although the number of women passengers on RTC buses has increased, the total number of buses has not.
In response to Raman’s comments, the chief minister emphasized that government decisions are not dictated by corporate interests.
“The welfare of people, especially women, is the top priority of the Congress government. We will maintain this scheme no matter what. We are reimbursing funds to TSRTC every month promptly to ensure that TSRTC does not face a financial crisis due to the free bus scheme,” he asserted.