Imo PDP tackles Okorocha over fresh N20bn loan

Imo State chapter of the Peoples Democratic Party (PDP), yesterday slammed Governor Rochas Okorocha for applying for another N20 billion loan after just receiving over N26 billion bailout from the Federal Government.PDP said it was a deliberate and calculated attempt to further bankrupt the state.
In a statement signed by Mr. Kizito Onuoha, publicity secretary, PDP said it was dismayed with the recent application by Okorocha for a fresh N20 billion which will further plunge the state into huge debtedness.
“It is highly unfortunate that the governor is making this borrowing after just receiving N26 billion Federal Government bailout. It is important to ask the Imo State government what they have done with the N26 billion bailout fund while some workers are yet to receive the salary arrears and pensioners still being owned up to 29 months not to talk of the unpaid gratuities.
“Having taken a painstaking diagnosis on the current debt profile of the state, it is really disheartening that Imo State is already owing N63 billion and if the fresh loan of N20 billion is added, the state’s debt stock would be a whopping N83 billion, outside the over N100 billion debt owed local contractors in the state.”
The PDP which condemned in its entirety the fresh application for another N20 billion loan alleged that it was a deliberate attempt by the Okorocha government to further subject the state to irredeemable indebtedness as well as mortgage the future of the state.
The statement further reads: “It is rather unfortunate that the present government has not only decided to bankrupt the state but also to milk the state dry. It should be noted that the decision to take this fresh loan was not taken by any state executive council as there is none at the moment. So it is the sole decision of Governor Okorocha, who has decided to run the state as a sole administrator.”