BBMP plans to mortgage PUB

BANGALORE: The Bruhat Bangalore Mahanagara Palike (BBMP) plans to mortgage Public Utility Building (PUB) to meet its financial demands.Speaking to the media on Thursday, city Congress president Dinesh R Gundu Rao said, the BBMP had sent a proposal to mortgage the Utility Building to raise loans.He said that the BBMP’s financial condition had hit a low and the authorities were looking at disposing of the prime properties to remain afloat. “Earlier, the BBMP had identified K R Market, and  it is now eyeing the Utility Building,” he slammed. Gross abuse of power, inefficiency and the misrule by BJP has resulted in BBMP’s bankruptcy, he alleged.  “While all the developmental works by the city civic body has taken a backseat, only corruption is in the forefront,” Gundu Rao charged. KPCC president Dr G Parameshwar informed that BJP was in spree for disposal of  assets, including Jayanagar Shopping Complex.