Is Delhi airport renovation heading for trouble
I think its time that GMGR led DIAL is told to quit if it doesn’t have funds or can’t raise funds to complete the upgradation of Delhi Airport. Every now and then they keep coming up with some scheme (I think they are scams) to raise money. I think last year, they wanted to take deposits for hotel development even though at that time there was no financial crisis. Thankfully, the government did not allow them to do that as even the government felt that GMGR might pocket the entire amount. Now again, GMGR-DIAL wants to levy a fee on all outbound travellers a sum of Rs. 350, an increase of Rs. 50 on the earlier proposed levy of Rs. 300. Just because GMGR-DIAL has a fund shortage, why should we as customers pay to fill the shortfall? There is no logic to this. I feel that if they cannot perform their obligations, the government should ask them to quit and get another company to handle it. I think Anil Ambani would be happy to take over.
Lets suppose that there was no financial crisis and the economy was booming, GMGR-DIAL would have minted money. Do you think they would have done anything more than what was required according to the contract? Would they have returned the excess money earned? I don’t think so. Their logic would have been that they took the risk and that they are entitled to the returns.
Why can’t the government ask them to sell a part of the share of their project. Remember, everything can be sold at a price.
Government cannot keep helping these big shot businessmen who overextend themselves. The government recently helped Vijay Mallya and within months he is flying to 9 foreign locations. Where did he get the funds all of a sudden? Do you think he wants to now pay the oil companies early? I doubt it.
Avinash Narula
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