GHMC to raise ₹ 200 crore through bonds

Third time within a year’s span, amount is for funding ongoing projects under SRDP

January 16, 2019 11:51 pm | Updated 11:51 pm IST - HYDERABAD

The GHMC is all set to go for issue of bonds third time in a year’s span, to raise funds for the ongoing projects under Strategic Road Development Plan (SRDP) which envisages comprehensive signal-free management of city’s vehicular traffic.

GHMC Commissioner M. Dana Kishore, during a media interaction on Wednesday, informed that he, along with Mayor Bonthu Ram Mohan, might visit Mumbai in 10-15 days for the issue of municipal bonds. The corporation hopes to raise ₹200 crore this time.

If realised, this will be the third tranche of funds from the ₹1,000 crore GHMC aims to raise through bond issue. In the first tranche during February last year, the corporation could raise ₹200 crore by listing the bonds on Bombay Stock Exchange, followed by another tranche of ₹195 crore in August last year.

Dismissing reports predicting property tax hike, Mr. Dana Kishore assured that there will not be tax hike in the near future. Instead, the corporation is striving to bring more properties into the tax purview, thereby increasing the revenues, he said.

Technology will be leveraged to detect properties escaping tax so far, by mapping all the structures and their built-up areas in the city using Geographical Information System (GIS). Efficiency in tax collection will be increased instead of tax, he said.

Detailing about the preparations for Swachh Survekshan, 2019, he said central teams would arrive in Hyderabad for assessment of the city’s status with regard to garbage-free star rating, and the ODF-plus ranking.

Desilting of stormwater drains is being taken up and twin bins are being installed every 100 metres on the city roads towards this end. Hyderabad Metro Rail, and Hyderabad Metropolitan Development Authority also have been asked to install the bins in their respective territories.

The animal slaughter house in Chengicherla will be fully functional after providing water supply, Mr. Dana Kishore said. Funds have been allocated for laying a 150-metre pipeline, and works will be taken up shortly, he informed.

Electronic monitoring of the garbage clearance will be initiated, whereby the garbage dump and transfer stations in each ward can be monitored from the Command Control Centre of GHMC. Besides, Nano cars equipped with rotating cameras will roam the city to keep a vigil on the sanitation issues, so that action may be taken against those responsible.

Zone-level meeting of sanitation workers and staff will continue in future too. Special campaigns will be launched in the next six months for greater public participation in Swachh activities. Painting of walls will be taken in the city’s slums, to discourage open urination, he said.

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