Arunachal's 3 Govt undertakings running at a huge loss

ITANAGAR, June 2 ? Arunachal Pradesh Cabinet has expressed serious concern over the ineffective functioning of the various State Government undertakings and co-operations. Arunachal Pradesh Industrial Development and Financial Corporations, Arunachal Pradesh Forest Corporations and Arunachal Pradesh Mineral Development and Trading Corporations, with huge liabilities of Rs 58.74 lakh, Rs 911 lakh and 14000 are the three corporations, which are running under loss. ?Despite having funds, some of the State government undertakings are under huge liabilities with a large amount of negative balance, as a result they are on the verge of winding up,? Takam Sanjoy, State Education Minister and government spokesman told media in a press conference here. ?To a query, he said, ?All these corporations were registered and working under the Industrial Dispute Act of 1947 to do business. If they cannot perform then what is the purpose of tere existence?? However, he ruled out the immediate closures of these trading corporations and said there would be immediate retrenchment of its employees. ?For the welfare of the employees of those corporations under huge liabilities, the State government has opened avenues for the employees to go for voluntary retirement schemes,? he said, adding, ?the employees who would opt for the VRS, the State government would give an incentive of 35 days salaries?. ?The Cabinet, which met here yesterday under the chairmanship of Chief Minister Mukut Mithi, has approved few amendments to Arunachal Pradesh Panchayat Raj Act 1997 to redefine the meaning of gram sabha and gram panchayat. ?Government will soon issue an ordinance in this regard within six months,? Sanjoy said. ?He said the Cabinet has also adopted AP Panchayat Act (constitution of State Election Commission) Rules 2002. He reiterated that ruling Congress (I) government in the State would hold the panchayat election within six months period. According to Sanjoy, the cabinet has also approved Arunachal Pradesh Service of state got Rules 2002 and Arunachal Pradesh Health Service Rules.