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New Delhi, Jul 6 (PTI) The opposition Congress in MCD today alleged that "financial mismanagement" by the ruling BJP has brought the civic body "on the verge of bankruptcy". Congress councillors staged a dharna at the MCD headquarters at Town Hall here to highlight the "mismanagement of MCD" and demand dissolving of the corporation. Addressing the councillors, Leader of Opposition in MCD, Jai Kishan Sharma said "due to lack of farsightedness and financial mismanagement of the BJP, the local body has come on the verge of bankruptcy." He said revenue from property tax, advertising and parking is very low as compared to the fixed targets. "The financial position of MCD is very grim and it is even not being able to perform its routine duties," he said. Sharma said earlier MCD was dissolved thrice -- in 1975, 1980 and 1990 -- due to various reasons like imbalance in the income and expenditure, non-payment to contractors, non-payment of salaries and arrears to the employees and creation of posts without any additional source of income. "The circumstances in MCD are again leading towards dissolution.the situation is very bad due to financial mismanagement," he said.
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