Corp resorts to shortage of funds | Kochi News

KOCHI: At a time when the new council of Cochin society celebrates its first anniversary, civic body falters with lack of funds. According to opposition advisers, the financial situation of the corporation is very pitiful.
“To cover administrative expenses only, the company needs around 13 crore rupees per month, while its income is only 10 crore rupees,” said opposition leader Antony Kureethra. In addition to finding the necessary sum to meet current expenses, local authorities must also mobilize funds for other projects.
The company will need to raise 74 crore rupees to bio-mine the legacy waste accumulated on the premises of the Brahmapuram solid waste treatment plant. The National Green Tribunal (NGT) had called on the company as well as the government to take urgent action to biominer the legacy waste. Although the project has been awarded to a private company, work has not yet started.
Likewise, a colossal sum will be required to complete work on the company’s new office at Marine Drive. According to the estimate prepared by the authorities of the company, at least Rs 40 crore will have to be increased to complete the work.
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