Aurangabad civic body clears bank loans of Rs 100 crore

The Aurangabad MunicipalCorporation AMC has cleared Rs 140 crore in dues, almosthalf of the pending payments, of contractors and paid backentire bank loans worth nearly Rs 100 crore in the last oneyear, civic commissioner Astik Kumar Pandey said on Friday.The AMC had loans from various banks of nearly Rs 100crore and pending dues of Rs 286 crore to contractors who haddone various development works in the city, he said.The civic body had bank loans of nearly Rs 100 croreon the day I joined one year ago.

The Aurangabad MunicipalCorporation (AMC) has cleared Rs 140 crore in dues, almosthalf of the pending payments, of contractors and paid backentire bank loans worth nearly Rs 100 crore in the last oneyear, civic commissioner Astik Kumar Pandey said on Friday.

The AMC had loans from various banks of nearly Rs 100crore and pending dues of Rs 286 crore to contractors who haddone various development works in the city, he said.

''The civic body had bank loans of nearly Rs 100 croreon the day I joined one year ago. Pending dues of contractors,who were waiting for clearance of their payments, had reachedRs 286 crore last year.

''Some of the dues were pending since 2004-05. Out ofthis Rs 286 crore amount, we have succeeded in clearing Rs 140crore during the COVID-19 pandemic,'' Pandey told PTI.

''We have cleared payments till 2018. The corporationalso had bank loans of around Rs 100 crore and debt has nowcome down to zero.

''By the end of this financial year, the municipalcorporation will clear Rs 30 crore to 40 crore more of thepending dues,'' he added.