<\/p>\n<\/p>\n
Nagaland Pradesh Congress Committee (NPCC) said it appreciated the UDA government for finally coming to its senses after 19 years by adopting the resolution on SARFAESI Act 2002 in the recent assembly session but added that ensuring implementation of the Act with economic growth as the objective would be an uphill task. <\/p>\n
Stating this in a press release, NPCC president K Therie emphasised that understanding the Act from both the lenders and borrower’s point of view was important. He also called for censure on the Law department for having “wrongly advised” the Assembly that the Act would infringe on Article 371 (A). He alleged that this advice caused delay against the bill from being passed. <\/p>\n
Therie also held the advice note for being responsible for the loss of growth of economy for nearly two decades. He also said this also caused the economy to suffer on account of denial of loans for development, thereby stagnating growth and revenue generation. <\/p>\n
In addition, the delay had led to industrial growth grinding to halt and blocking creation of employment opportunities. <\/p>\n
He said that misleading the Assembly is a serious offence and demanded that the government should fix responsibility so that it is not repeated in future.<\/p>\n
On the problems faced by borrowers and lenders prior to SARFAESI Act, Therie said that there was serious trust deficit between lenders and beneficiaries, especially Nagaland’s citizens and the main problem being PMRY loanees’ failure to repay. <\/p>\n
He also mentioned that the fault lay with the Industry department in choosing borrowers without considering their skill and commitment and relying on photo copies of projects reports without understanding the Strengths, Weaknesses, Opportunities and Threats (SWOT). <\/p>\n
He advised the State government officials to apply their wisdom and ensure works are executed on the ground.<\/p>\n
Barring a few MLAs who had raised the issue in the Assembly, the NPCC president said largely, legislators have no concern for such issues. “They have no sense of responsibility or accountability…,” he stated.<\/p>\n","protected":false},"excerpt":{"rendered":"
NPCC welcomes nod to SARFAESI Act, questions implementation<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[679],"tags":[],"class_list":["post-239554","post","type-post","status-publish","format-standard","category-nagaland-news"],"_links":{"self":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/239554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/comments?post=239554"}],"version-history":[{"count":0,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/239554\/revisions"}],"wp:attachment":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/media?parent=239554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/categories?post=239554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/tags?post=239554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}