Lucknow, Feb 9 (PTI) A day before the Global Investors' Summit in Uttar Pradesh, opposition parties on Thursday alleged that the state government was signing MoUs with companies being run from a single room.

Prime Minister Narendra Modi will inaugurate the summit on Friday. The three-day event is expected to be attended by several Union ministers and a host of leading industrialists.

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Taking a dig at the state government, Samajwadi Party chief Akhilesh Yadav said, "The BJP government is taking the state towards destruction instead of development. MoUs (Memorandums of Understanding) are being signed with industrialists to cheat the public and show off.

"This government is signing MoUs with such companies, which are running in a single room."

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During the previous summit, it claimed to have signed MoUs worth Rs 5 lakh crore but nothing materialised on the ground, Yadav said in a statement.

He alleged that the BJP government is signing MoUs with anyone in a suit and tie as it does not require any money.

Akhilesh Pratap Singh, the Congress spokesperson, said public money was being used to mislead the public.

Investment management agencies have been hired for the summit. The government should say which agencies these are, how they were hired and how much they were paid, Singh told reporters.

A similar summit was organised in Lucknow in February 2018 in which MoUs were signed with 1,045 companies for investments worth about Rs 4.28 lakh crore, Singh said.

He added that only 371 of these companies came for 'bhoomi pujan', of which only 106 -- or nine per cent of the total -- have been able to operate commercially.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)