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Govt attempting to bring in more investment

Written by Meghalaya Times. Posted in Front Page

Staff Reporter
SHILLONG, Aug 10: In an attempt to bring in more investment into the state, the state government is currently examining a proposal for review of the Meghalaya Industrial and Investment Promotion Policy (MIIPP), 2012.
Informing this after a meeting of the Meghalaya State Planning Board (MSPB)’s working group-IX held here, board’s co-chairman John F Kharshiing said that in line with the board’s earlier recommendation for reviewing the MIIPP-2012, a road map on this was already submitted to the state government by the commerce and industries department for examination.


Stating that power tariff is one main components for attracting investment, he said that many states are inviting investments which largely depend on incentives.
Kharshiing however said that the power tariff in Meghalaya is fixed at Rs 6 while the power incentive in other states like Assam and Arunachal Pradesh is only at Rs 2, thereby discouraging investment to come into the state.
“The department has been asked to take the matter up with the power department,” he said while adding that land is another major issue due to the peculiar land tenure system in the state.
He said the in view of the of Centre’s discontinuation of the North East Industrial & Investment Promotion Policy (NEIPP) 2007, the chief ministers of all the NE states are demanding for its re-introduction for attracting more investment into the region.
Referring to the Export Promotion and Industrial Park in the state, he revealed that out of 50 industrial units, only 15 to 16 are operational.
Meanwhile, the board has also sought a status report on the functioning of the Mawmluh Cherra Cement Limited (MCCL) after completion of the modernization project.


 

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