The Times of India 11.11.2009
PCMC panel okays proposal for Rs 210 cr loan from WB
PUNE: The standing committee of the Pimpri-Chinchwad Municipal Corporation (PCMC) on Tuesday approved the modified proposal of the civic administration to take a loan of Rs 210 crore from the World Bank.
Municipal commissioner Ashish Sharma said, "The general body of PCMC has given permission to the administration to take a loan of Rs 400 crore for developmental projects. But the PCMC needs a loan of Rs 210 crore only. So we sent a new proposal to the standing committee."
Sharma said, "The loan will be used to implement the bus rapid transit system (BRTS) projects and to construct flyovers. We will also create an intelligent transport system for the Pune Mahanagar Parivahan Mahamandal Ltd in Pune and Pimpri-Chinchwad. Global positioning system (GPS) will be installed on all PMPML buses so that we will be able to know the location of any bus and inform the commuters when it will reach a particular spot."
Sharma said the World Bank would give Rs 10 crore out of the Rs 210 crore as grant. "The repayment period of the loan is 30 years. There is a moratorium on repayment for first five years. We need the funds to complete all projects under the Jawaharlal Nehru National Urban Renewal Mission by 2012. We will be able to repay the loan before 2015 as the JNNURM projects will be completed by then."
Sharma added that a consultant would be appointed for the project to remove electricity cables and towers on the Aundh-Ravet road to facilitate widening of the road.
The PCMC will pay Rs 5 lakh to the Indian Institute of Urban Transport to organise an annual exhibition-cum-conference in Delhi on JNNURM, Sharma said.
Meanwhile, standing committee chairman Dnyaneshwar Bhalerao said that the committee has approved a proposal for appointing a consultant for the Aundh-Ravet road work.
