AP FiberNet plunges into debt, Babu assures its revival

A vigilance inquiry is currently underway to investigate alleged corruption during the past five years

AP FiberNet, launched in 2014 by Chief Minister Nara Chandrababu Naidu to provide affordable internet and cable services, has suffered a significant decline in connections and accumulated substantial debt under the previous administration. This was revealed by GV Reddy, Chairman of AP FiberNet Limited, at a press conference held at the FiberNet office in the NTR Administrative Block on Friday.

Reddy highlighted that the initiative had initially brought internet access to rural areas, benefiting both residents and employees. However, the number of connections, which stood at 10 lakh in 2019, has drastically fallen to just 5,00,000 by 2024, carrying debts of Rs.1262 crore. "Instead of growing tenfold, the connections halved, pushing the organization to the brink of bankruptcy," Reddy stated. He expressed bewilderment at the decline despite the organization's extensive resources.