No uranium extraction to repay loans, clarifies Conrad
Ardent raised concern over state's debt trap and ability to repay loans from international institutions
Shillong, Mar 5: Chief Minister Conrad Sangma on Wednesday allayed the fears of VPP MLA Ardent Basaiawmoit that the Centre would ask the state to repay loans by extracting uranium.
Basaiawmoit on Monday expressed apprehensions while participating in the debate on the Governor’s address.
Referring to the CM’s plan to achieve the US$10-billion economy by 2028, Basaiawmoit expressed concern over whether it was achievable.
“I don’t know from where the money will come… The Comptroller and Auditor General has warned that the state’s borrowing trend increased by over 63% in the past five years and could lead the state to a debt trap… The government is availing loans after loans from various international banking institutions… What will happen if the Government of India, one fine day, asks the state government to repay the loan in the form of extraction of uranium,” Basaiawmoit had said.
The State Finance Report 2021-22 pointed out “a major jump of Rs 1,578.06 crore was noticed in Government’s borrowings (Rs 4,019.95 crore), an increase of 64.62 per cent over the previous year (Rs 2,441.89 crore)”.
“These hypothetical scenarios creating and confusing the people are not the right way to move forward. These things are completely wrong, and there is nothing like that,” Sangma said.
“One, the way the finances have been worked out, I repeat the government of India is very particular in the norms that were put up, and we follow the norms very strictly. Therefore, the question of us being in that position number one doesn’t arise. Two, even if the situation in whatever the wildest imagination were to happen, that situation would never happen where the government would say that,” he added.
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