Who said PMC is short of funds? Its sitting on Rs 765 crore in FDs

  • 17/07/2008

  • Indian Express (Mumbai)

Pune, July 16 Even as the civic body has been struggling to keep infrastructure work going and has been demanding more funds for Jawaharlal Nehru National Urban Renewal Mission (JNNURM) projects, it now transpires that PMC is sitting on a nest egg of Rs 765.5 crore that it has salted away in the form of fixed deposits in various banks. Replying to a query by BJP corporator Ujjwal Keskar on its fund flow status, the civic administration said that a total of Rs 1,494.15 crore has been sanctioned to PMC for projects under JNNURM while it has so far received Rs 490 crore