GUWAHATI, May 23 – Sounding upbeat over Dr Manmohan Singh assuming office as the Prime Minister of the country, the North Eastern Development Finance Corporation (NEDFi) has expressed confidence that under his able stewardship the state and the North-east would be able to tide over its multitude of problems, especially those concerning the poor industrialisation scenario of the region.
Terming Dr Singh’s elevation to the top post as a very good thing to have happened for the region, NEDFi chairman and managing director JP Saikia today told The Assam Tribune that the industrial policy for the North-east should be modified for retaining its exclusiveness. “Since the incentives so far given to the North-east have also been extended to other states like Uttaranchal, Himachal Pradesh, Chattisgarh etc., a thorough review of the policy which is also the demand of the industry circles here, has become imperative,” he reasoned. Saikia said that the NEDFi would move the Prime Minister over the issue of granting special incentives for the North-east in view of its peculiar problems coming in the way of industrialisation. The NEDFi had already submitted some recommendations on the changes to be made on the policy after conducting a study on the “impact of industrial policy in North-east.”
“Dr Singh has had a long association with Assam as well as the entire North-east for a long time and we are pinning high hopes on the Prime Minister, as he is endowed with a profound understanding of the peculiar problems besetting the region,” Saikia said. Developing the infrastructure remains a key to promote industry in the North-east, something the fund-crunched state governments are finding tough to accomplish. Saikia said that with Dr Singh as the Prime Minister, the NEDFi’s efforts to rope in as much Central assistance as possible for infrastructural development could bear fruit. The sorry state of affairs in the state’s PSUs was another pressing concern that the NEDFi would take up with the new Prime Minister. “Most of the government industries here are in a moribund state and a substantial one-time assistance is needed to bail out the sector. With banks and other financial institutions also having their own limitations, we are looking forward to a special Central package for revival of the industries,” Saikia said.
The NEDFi chairman said the corporation’s stress was more on setting up of industries using locally-available raw materials. These are cost-effective and there is no dearth of such raw materials with which industries can be set up, he said, adding that coal and gas-based projects held immense potential in the region. Another area holding great promise for the North-east is its proximity to the South East Asian countries and the possibility of opening up of trade links with South East Asia. Much has been said about harnessing this prospect but to achieve that, development of the transport and communication links is the need of the hour, he said.