The State cabinet has put off repayment of the interest-free loan granted by the Karnataka government to Bengaluru International Airport Limited (BIAL) by 10 years.
Briefing reporters after the cabinet meeting, Law & Parliamentary Affairs Minister Krishna Byregowda said the decision had been taken in the wake of ongoing construction of the second runway at Kempegowda International Airport.
The BIAL had sought financial support from the government for construction of the second runway. However, instead of granting financial support, the government had decided to put off repayment of the loan, he explained.
Pointing out that the State government had given an interest-free loan of ?333.50 crore to the BIAL and its repayment was supposed to start this year, the minister said the cabinet had decided to put it off as a gesture of support to the ongoing work of building the second runway to cater to the increasing air traffic.
22/06/18 The Hindu
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Briefing reporters after the cabinet meeting, Law & Parliamentary Affairs Minister Krishna Byregowda said the decision had been taken in the wake of ongoing construction of the second runway at Kempegowda International Airport.
The BIAL had sought financial support from the government for construction of the second runway. However, instead of granting financial support, the government had decided to put off repayment of the loan, he explained.
Pointing out that the State government had given an interest-free loan of ?333.50 crore to the BIAL and its repayment was supposed to start this year, the minister said the cabinet had decided to put it off as a gesture of support to the ongoing work of building the second runway to cater to the increasing air traffic.
22/06/18 The Hindu
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