AURANGABAD: The Aurangabad Municipal Corporation (AMC) has cleared Rs 140 crore in dues, almost half of the pending payments, of contractors and paid back entire bank loans worth nearly Rs 100 crore in the last one year, civic commissioner Astik Kumar Pandey said on Friday.
The AMC had loans from various banks of nearly Rs 100 crore and pending dues of Rs 286 crore to contractors who had done various development works in the city, he said.
“The civic body had bank loans of nearly Rs 100 crore on the day I joined one year ago. Pending dues of contractors, who were waiting for clearance of their payments, had reached Rs 286 crore last year.
“Some of the dues were pending since 2004-05. Out of this Rs 286 crore amount, we have succeeded in clearing Rs 140 crore during the COVID-19 pandemic,” Pandey told PTI.
“We have cleared payments till 2018. The corporation also had bank loans of around Rs 100 crore and debt has now come down to zero.
“By the end of this financial year, the municipal corporation will clear Rs 30 crore to 40 crore more of the pending dues,” he added.
Source: Press Trust of India
