AMEA for reviving MANIDCO
Source: Hueiyen News Service

Imphal, June 16 2013: With an aim to give a boost to industrial sector in the State and also to give a helping hand to those interested in setting up industries, All Manipur Entrepreneur Association (AMEA) has demanded revival of the defunct Manipur Industrial Development Corporation (MANIDCO) .

Talking to media persons at Hotel Imphal here today, S Rishikumar, President of AMEA stated that the industrial sector in the State has been remaining in its worst condition for the last many years.

MANIDCO which used to grant loans to various entrepreneurs of the State has stopped functioning for the last two decades and has also stopped providing loans to entrepreneurs since 1999 .

He pointed out that MANIDCO has not been able to repay an amount of Rs 5 crores to Small Industries Development Bank of India (SIDBI) in addition to Rs 2.95 crores to be given to Industrial Bank of India (IDBI).

As such, no further funds have been sanctioned either from SIDBI or IDBI to MANIDCO.

Officials from SIDBI and IDBI have even visited the State and asked the State Government to repay the amount bit by bit, if not in one go.

Therefore, the State Government needs to repay back the amount and make SIDBI and IDBI sanction money to MANIDCO like before.

AMEA President also stated that people of the State, who are interested in establishing small scale industries, will be blessed if the government provides loan to them and help Manipur to rise in the field of industrial sector.

He also pointed out the need to set up Industrial Gram Centre and the like in Manipur.

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