Assam cabinet approves Rs 1800 cr to forgo microfinance loans

GUWAHATI, September 30: The Assam government held a Cabinet meeting in Dhemaji on Thursday and approved Rs 1,800 crore to forgo microfinance loans from female borrowers and sanctioned a Rs 700 crore relief plan for the employees of the Cachar and Nagaon paper factories, which have now disappeared. by Hindustan Paper Corporation Ltd (HPCL).

Speaking to the media after the Cabinet meeting, which was first held outside Guwahati under his leadership, Chief Minister Himanta Biswa Sarma said Rs 1,800 crore had been approved as the first payment for borrowers, who have made regular repayments, to repay microfinance. ready.

“The Cabinet also approved a package of Rs 700 crore for the two HPCL factories. Of this amount, 570 crore rupees will be the back-up plan to pay the wages and other contributions of 1,100 employees, ”Sarma said.

The amount of the emergency lump sum will be assessed on the basis of the Provident Fund, bonuses, pensions, salaries and other contributions claimed and admitted before the liquidator.

“The remaining amount will be used to pay other bills like electricity costs and payment to the liquidator,” he said.

“Relief will also be provided to school teachers, contract workers and HPCL cooperatives. The state government will facilitate the workers / employees who have not completed their service to obtain jobs in the new industries to be established in the HPCL lands in the future ”, said the Chief Minister.

“Government jobs will be offered to the 100 youngest employees / workers of HPCL. HPCL doctors and paramedics will also be housed in government jobs, ”he said.

The Cabinet also approved a fund of Rs 10 crore to be set up for the welfare of HPCL workers.

The state government will apply to the National Company Law Tribunal (NCLT) through the official liquidator for the recovery of HPCL assets after performing due diligence.

Among other key decisions, the State Cabinet decided to remove the ceiling for releasing funds from national pension and pension schemes, making all ceilings for social assistance schemes free and ensuring that the pension is deposited before the end of the year. 10 of each month.

In addition, considering the population growth in the existing towns of Silchar and Dibrugarh city council areas, the city councils will be transformed into municipal corporations in order to increase the flow of funds to these cities.

Separate legislation such as the Guwahati Municipal Corporation Act, 1971 will be formulated for the two municipalities in due course.

Previous End of the weekend: September 30 to October 3
Next Varsity VC congratulates two former professors