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Our Bureau

Hyderabad , June 20

THE newly appointed Advisor to the Andhra Pradesh Government and Chairman of the Visu Group of Companies, Mr C.C. Reddy, suggested the new government take `quality borrowing' as cornerstone in policies towards foreign funds.

The advisor on foreign investments and human resource placement said he would use his three decades of experience in the West to benefit the people of the State as the new assignment consisted of two vital parts - foreign investment funding and human resource placement abroad.

According to him, the mobilisation of foreign funds consisted of three parts - investments (both government and private), loans for developmental activities and grants (non-repayable).

In a press release here, he said the international borrowing policy hitherto was flawed since the borrowing was indiscriminate without regard to rate of interest and attached terms and conditions.

More Stories on : Economy | Overseas Borrowings | Andhra Pradesh

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