The Telegraph
Saturday , May 3 , 2014
CIMA Gallary

Govt to create corpus fund

Shillong, May 2: The Meghalaya cabinet today decided to create a corpus fund for the three entities of Meghalaya Energy Corporation Limited (MeECL).

The three entities — Meghalaya Power Distribution Corporation Limited (MePDCL), Meghalaya Power Transmission Corporation Limited (MePTCL) and Meghalaya Power Generation Corporation Limited (MePGCL) — will function under the MeECL, which is a holding company.

Chief minister Mukul Sangma told reporters after the cabinet meeting that the proposal to have a corpus fund for three entities of the MeECL was approved.

He, however, did not disclose an amount to be kept in it.

Sangma said the corpus fund would be a short-term measure to help the entities in case of financial crisis.

“Time has come for the MeECL to reflect whether its three entities should be separated and learn how to stand on their own feet,” Sangma said.

These entities have been directed to come out with a report on their business plans and financial management, he added.

The state government also asked the MeECL to complete various exercises linked to receiving financial restructuring plan (FRP) of the Centre where an audit has to be completed.

On the present power crisis in the state, Sangma said there was a need to have a balance between hydel and thermal projects. He said the MeECL was asked to prepare a feasibility plan for setting up biomass and renewal energy plants in inaccessible areas to reduce transmission and wheeling charges.

The cabinet has decided to hand over 19 public health centres, two community health centres and one dispensary, being run by the state government, to NGOs for better delivery of healthcare service to the people, especially in rural areas.

The cabinet approved transfer of the Meghalaya State Pollution Control Board from the public health engineering (PHE) department to the forest department.

The state pollution control board has been under the administrative control of the PHE department since its inception in 1983.

 More stories in Northeast

  • Panel to submit plans to tribunal
  • Demand for MLA's arrest
  • Rape cuffs on man after 22 yrs
  • Manas gets 3 bear cubs
  • Residents' plea for justice
  • Govt to create corpus fund
  • Navajyoti, GTC in final
  • Bagan beat Lajong 4-0
  • Champ defeat Youth
  • Sivasagar tame Rangia
  • Five rescued from rebels
  • Meet on border impasse
  • Victims recount night of terror
  • Threat to cut off lifelines over deaths
  • Four players take joint lead