Naidu and Lokesh's Singapore visit aimed at safeguarding ‘ill-gotten wealth', alleges former Minister

The Hindu

a day ago

Former Minister and YSR Congress Party (YSRCP) Anakapalli district president Gudivada Amarnath has levelled serious allegations against Chief Minister N. Chandrababu Naidu and IT Minister Nara Lokesh, claiming that their recent visit to Singapore was intended to protect their 'ill-gotten wealth' rather than attract investments for Andhra Pradesh.
Addressing a press conference at the party office on Saturday, Mr. Amarnath alleged that, having failed to secure any substantial investments, the Chief Minister and his son fabricated a narrative accusing YSRCP supporters of sending emails to corporate companies, thereby obstructing investment flows into the State.
He further claimed that the Singapore government was reluctant to engage with Andhra Pradesh due to the past record of corruption associated with Mr. Naidu and Mr. Lokesh. 'What tangible investments have they brought in following their trip?' he questioned, alleging that for the past two to three days, Mr. Lokesh has failed to answer this and is instead attempting to divert public attention by making baseless allegations against Y.S. Jagan Mohan Reddy and the previous YSRCP government.
Criticising the present government's performance, Mr. Amarnath said that many industrialists are hesitant to invest in the State after witnessing one year of Mr. Naidu's rule and what he described as 'atrocities' by NDA leaders. He also questioned the silence of Ministers such as Narayana and T.G. Bharat, who accompanied the delegation, and asked why Deputy Chief Minister Pawan Kalyan was not included in key international visits to Davos or Singapore.
He accused Mr. Naidu of harbouring an 'obsession with Singapore' since his previous tenure beginning in 2014. Referring to the Amaravati Capital Region Development project, Mr. Amarnath alleged that Mr. Naidu handed over a 58% stake to a Singapore consortium without any financial contribution from their side, while the Andhra Pradesh government, which invested ₹12,000 crore, was left with only a 42% stake. 'In the revenue share, Singapore companies were allotted 91.5%, while the State received a mere 8.5%. Is there a bigger scam than this?' he asked.
Mr. Amarnath also demanded clarity on Mr. Naidu's alleged connections with former Singapore Minister S. Iswaran, who is currently facing charges in a corruption case.
He asserted that several key infrastructure projects that Mr. Naidu promoted during the Singapore visit—including the Ramayapatnam, Mulapeta, and Machilipatnam ports, as well as the Adani Data Centre—were all initiated and advanced under the previous YSRCP government. He credited the prior administration's efforts, particularly Mr. Jagan's meetings at Davos, for bringing global companies such as ArcelorMittal to Andhra Pradesh. Additionally, Mr. Amarnath criticised the alleged handing over of prime government land in Visakhapatnam to private entities at throwaway prices. He cited the example of the Lulu Group, which was reportedly granted land on a 99-year lease at a rate of just ₹1.5 per sq. ft—an offer he claimed was unacceptable to the local populace. He concluded by demanding that the State government clarify its position on the future of the Visakhapatnam Steel Plant, amid growing concerns over its privatisation.