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Plan of action to revive FibreNet
The New Indian Express Anantapur
|December 20, 2024
AP FiberNet Limited (APSFL) was misused by the previous YSRCP government, bringing it to the brink of collapse through numerous irregularities, said the organization's Chairman, GV Reddy.
Speaking to the media on Thursday, he assured that all efforts would be made to revive APSFL and put it back on the path of development.
Reddy revealed that a vigilance inquiry into the irregularities was underway and that action would be initiated based on its findings. Sharing details of the alleged misuse, he stated that APSFL had 10 lakh cable connections in 2019, which declined to 5 lakh by 2024.
"This reflects the state of affairs during the YSRCP regime," he said, adding that APSFL is now burdened with a debt of ₹1,262 crore.
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