Breaking News
Nagaland Post Logo
You are here:  Skip Navigation LinksHome » Show story
Tokheho says debt on ‘high rise’
Published on 5 Aug. 2010 12:17 AM IST
Print  Text Size

Observing that there was a disparity between the reply of chief minister with starred question no.38 on loans from financial institution for the period 2010-2011, the leader of opposition Tokheho Yepthomi Wednesday asked which reply should be taken as fact.
Leader of the opposition Tokheho Yepthomi said that chief minister in his reply stated that loan from financial institution was Rs.5, 239 crore. However, in the reply to starred question no.38 it was Rs.150928.46.
“The total repayment of loan during the same period, ending March 2010, is Rs.69, 364.35 and therefore, the balance due is Rs.150928.46 – 69364.35 = Rs.81,564.11,” said Tokheho.
He also pointed out that the loan mount to be spent on repayment of loan under demand 75 for 2010-2011 was Rs.121827.45.
Describing the state’s debt as “high rise” and repayment of debt eating away “very big chunk” of state’s revenue, the CLP leader asked, “Where is our state leading with such high debt burden?”
Further, recalling the chief minister’s 2008 budget speech on upgrading Wazeho cement plant, from 50 metric ton (MT) per day to 150 MT per day, and subsequent allocation of Rs.22.22 crore to upgrade and the same, which was stated to be inaugurated by MLA Kipili Sangtam on June 27, 2008, Tokheho said, however, on July 22, 2010, in reply to starred question it was stated that the upgrading work was started in June 2004 and completed in January 2010.
He pointed out that the cement plant, after closure in 2003 remains shut down even after the inauguration and completion of upgradation. He said the government was paying the employees an amount of Rs.12,48,64,000 as salaries for the last eight years. While noting that the plant should start functioning after completion of work, Tokheho, said state government was wasting public money as the plant remained idle. In connection with it he asked “what is the purpose of upgrading when it can not function?”
On Likhimro hydel electric project (LHEP), the CLP leader said when LHEP was leased out to a private – after signing an agreement on March 23, 2006 for a period of 10 years – it was agreed that power charges would be Rs.1.17 paise per unit for two years, with increment of 0.05 paise per unit after every two years.
“In other words from 2006 to 2008 per unit is Rs.1.17 paise, from 2008 to 2010 per unit charges rises to Rs.1.22 paise,” he said.
Pointing out that LHEP generated 308.49 million unit during 2009-2010 ending March, the CLP leader said the payment of power charges should be Rs.37.63578 crore (Rs.1.22 paise x 308.49 million units).
However, he said the fund released against operation and maintenance against LHEP during 2009-2010 was Rs.100,000000.
Tokheho further stated that another group of releases were made for payment of energy bill against general drawing limit of Rs.103,17,00,000.
Also, pointing out that total power purchased, during the year 2009-2010, was 475.50 million units and total amount for the purchase of power was Rs.126.80 crore against the released amount of Rs.203.17 crore, Tokheho asked where the remaining Rs.76.37 crore has vanished.

Comments:(0) Login or Register to post your Comment
(Available for registered users only)
More News
  • 1
  • 2