Nilakuthi Food Park costs State dear
Source: Hueiyen News Service

Imphal, August 19 2013: The exchequer of State Government is getting diminished in paying interests for the loan availed from the National Bank for Agriculture and Rural Development (NABARD) under its Rural Infrastructure Development fund for developing the Nilakuthi Food Park.

The cash-strapped State Government is paying more than Rs.29 crores annually as interests for the loans availed from NABARD for implementing various projects in the State.

The Government is bearing huge interest for Rs.40-crore loan taken from NABARD for development of Nilakuthi Food Park.

Considering such financial crunches, a high level official meeting was convened under the chair of Chief Minister Okram Ibobi just recently.

The meeting was attended by top officials of Industries Department, Chief Minister's Advisor Jarnail Singh, Chief Engineer of PWD and other officials of Finance Department.

As per the resolution of the meeting, the Nilakuthi Food Park would be developed through state fund.

The loans from NABARD would be repaid at one time and the due projects would be completed from the state fund by diverting some funds from the major departments.

The officials concerned have been notified in this regard. The Nilakuthi Food Park has received Rs.4-crore grant from the Ministry of Food Processing.

However, the amount has already been utilized in the year 2002.The failure to complete the project within the stipulated time has led to escalation of the project cost.

At first, the project cost was estimated at Rs.13 crores, but rose to Rs.31 crores in the following years and ultimately reached Rs.45 crores.

The Food Park would benefit the entrepreneurs in food processing with facilities of cold storage, ware house, workshop, weight-bridge, common amenities, water and power supply, etc.

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