Jagan alleges Ramayapatnam port disinvestment will hurt State finances
Former Andhra Pradesh CM Jagan Mohan Reddy has criticized the current government's plan to disinvest in the Ramayapatnam Port. He argues the move will cause significant financial losses and undermine the state's economic development.
Why it matters
This reflects the ongoing political debate over infrastructure privatization and the management of state-funded public assets in India.
YSR Congress Party (YSRCP) president and former Chief Minister Y. S. Jagan Mohan Reddy has alleged that the Andhra Pradesh government’s proposed disinvestment of the Ramayapatnam Port would result in substantial financial losses to the State and undermine the project’s long-term economic potential.
In a post on social media platform X on Sunday, Mr. Jagan questioned the rationale behind the proposed move, asking whether it was “development or scam”, and alleged that the government was attempting to hand over a strategically important public asset to private entities at the State’s expense.
Mr. Jagan claimed that during his tenure, the Ramayapatnam, Machilipatnam and Mulapeta ports recorded significant progress, with land acquisition, statutory clearances, financial closure and execution of EPC contracts being completed. He also claimed that substantial physical progress had been achieved on all three projects before June 2024.
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