YSRCP MLC alleges `11,000 cr scam in MoU with Axis Power

YSRCP MLC alleges `11,000 cr scam in MoU with Axis Power
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YSR Congress Party nellore city incharge and MLC Parvathareddy Chandrasekhar Reddy has alleged that coliation government has indulged Rs 11,000 worth huge scam by entering in Memorandum of Understanding (MoU) related to purchase with Axis power company.

Nellore: YSR Congress Party nellore city incharge and MLC Parvathareddy Chandrasekhar Reddy has alleged that coliation government has indulged Rs 11,000 worth huge scam by entering in Memorandum of Understanding (MoU) related to purchase with Axis power company. Addressing media persons at party district office in the city here on Tuesday, the YSRCP leader has disclosed that AP government has entered MoU with Axis on 2nd May 2025 for period of 25 years

The MLC detailed that following fresh MoU government has to purchase Rs 4.60 per unit. He said that such initiative leads to abnormal hike in power tariff as consumers has to face additional burden as they are already bearing Rs 15,000 crores. The MLC narrated that suppose a consumer who was presently paying Rs 5,000 bill per month has to pay Rs 8,000 in the name of True charges, Service charges and others likely from June Month.

While describing MoU with Axis as biggest scam ever witnessed in the country, the MLC has recalled that the TDP when it was in opposition has made hue and cry after YSRCP entered MoU with central government run Solar Energy Corporation of India (SECI) for purchasing Rs 2.49 per unit for 25 years period.

While recalling that over the promise made by Chief Minister Nara Chandrababu Naidu during 2024 electioneering he never hike the power tariff if his party to power, now answer the public over the issue

The YSRCP leader has warned of launching legal battle if government fails to cancelled the MoU with Axis company. Party leaders Khaleel Ahmed, M. Nirmala, V. Nagarjuna and others were present.

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