Hyderabad: The Greater Hyderabad Municipal Corporation (GHMC) is grappling with a severe financial crisis, leaving it incapable of disbursing salaries to its employees this month.
As the eighth day of the month unfolds, the civic body, dependent on revenue from the expansive 650 square-kilometer capital city area, struggles to find funds to meet its day-to-day obligations.
Commissioner Ronald Rose, alarmed by the situation, reportedly sought assistance from revenue-generating departments in late November, attempting to accumulate up to Rs 50 crore. This sum was urgently required to cover the interest on loans obtained by the GHMC for various infrastructural projects within the city.
To provide immediate relief and enable salary disbursement, the GHMC needs approximately Rs 120 crore. This financial infusion is crucial for the corporation to navigate through the month.
An official revealed that the revenue staff’s engagement with recent elections led to a lapse in Property Tax collection last month. The GHMC has submitted a comprehensive report on ongoing projects to the government and is hopeful of receiving assistance to tide over the current financial strain.
The delay in salary payments adds pressure to the already challenging financial circumstances faced by the GHMC. The corporation’s ability to carry out essential functions and maintain crucial services hinges on securing the necessary funds in the coming days.
