PMC pushes Rs.3,513-cr projects

    pune municipal corporation
    The Pune Municipal Corporation (PMC) is all set to start construction work on mega projects entailing investment of Rs.3,513 crore and to ensure smooth flow of funds, it is issuing of municipal bonds to generate Rs.2,264 crore. In addition, Rs.1,050 crore would flow from the Central government‘s scheme of AMRUT and Smart City Mission, along with the PMC‘s share, Municipal Commissioner Kunal Kumar said that the civic body is going to raise funds from municipal bonds at an interest rate of 8 percent, but the rebate of 2 percent by the Union government would enable the civic body to raise funds at a rate of 6 percent. The PMC has the best credit ratings in the country and many are interested in investing in municipal bonds being issued by the civic body, due to assured returns. These apart, the PMC would also explore the possibility of raising money from international markets.
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