Assam govt to set up investment holding firm for oil gas sector
Guwahati Dec 24 PTI The Assam government on Friday announced it will set up an investment holding company to pump in money into oil gas and fertilizer entities and manage those stakes At a meeting of the state cabinet it was decided to harness the benefit of certain investments in the oil and gas sector Cabinet decided to set up an investment holding company to hold and manage the portfolio of investment in oil gas fertilizer etc companies an official communique said The decision will propel growth in the crucial energy sector and add to the revenue stream of the government it added The cabinet also approved the implementation of a Revamped Distribution Sector Scheme RDSS in Assam with an investment outlay of Rs 872708 crore The RDSS will include construction of a high-voltage distribution system aerial bunched cables new sub-stations and lines bifurcation of feeders and reconstruction of existing lines among others Besides the cabinet gave its nod to payment of Rs 137 crore for tariff subsidy to the Assam Power Distribution Company Ltd APDCL The government also waived a total of Rs 1097 crore unpaid interest on loans to the Assam Power Generation Corp Ltd APGCL and the Assam Electricity Grid Corp Ltd AEGCL To make the power utility companies profit-making the cabinet decided to convert the government loans and grants to AEGCL and APGCL into equity and waive the loan interests It mentioned that Rs 1286 crore is in the form of loans and Rs 3280 crore is the grant to these two state-run entities The cabinet also sanctioned Rs 13064 crore towards interest subvention for state government employees to build houses under Apon Ghar scheme Besides in recognition of their services towards women and children welfare the cabinet approved a one-time terminal benefit to anganwadi workers at the time of retirement on their attaining 60 years In recognition of their contribution to the nation the Assam cabinet approved to provide two per cent reservation in Grade-III and IV posts for ex-servicemen Out of this reservation 25 per cent will be for disabled ex-servicemen and family of deceased soldiers while the remaining 75 per cent will be kept for all other ex-servicemen The cabinet also approved the requirement for residential status certificate or domicile certificate for candidates selected for various posts in Assam Police However SC ST and OBC candidates have been excluded from giving such residence proof certificates PTI TR HDA
Guwahati Dec 24 PTI The Assam government on Friday announced it will set up an investment holding company to pump in money into oil gas and fertilizer entities and manage those stakes At a meeting of the state cabinet it was decided to harness the benefit of certain investments in the oil and gas sector Cabinet decided to set up an investment holding company to hold and manage the portfolio of investment in oil gas fertilizer etc companies an official communique said The decision will propel growth in the crucial energy sector and add to the revenue stream of the government it added The cabinet also approved the implementation of a Revamped Distribution Sector Scheme RDSS in Assam with an investment outlay of Rs 872708 crore The RDSS will include construction of a high-voltage distribution system aerial bunched cables new sub-stations and lines bifurcation of feeders and reconstruction of existing lines among others Besides the cabinet gave its nod to payment of Rs 137 crore for tariff subsidy to the Assam Power Distribution Company Ltd APDCL The government also waived a total of Rs 1097 crore unpaid interest on loans to the Assam Power Generation Corp Ltd APGCL and the Assam Electricity Grid Corp Ltd AEGCL To make the power utility companies profit-making the cabinet decided to convert the government loans and grants to AEGCL and APGCL into equity and waive the loan interests It mentioned that Rs 1286 crore is in the form of loans and Rs 3280 crore is the grant to these two state-run entities The cabinet also sanctioned Rs 13064 crore towards interest subvention for state government employees to build houses under Apon Ghar scheme Besides in recognition of their services towards women and children welfare the cabinet approved a one-time terminal benefit to anganwadi workers at the time of retirement on their attaining 60 years In recognition of their contribution to the nation the Assam cabinet approved to provide two per cent reservation in Grade-III and IV posts for ex-servicemen Out of this reservation 25 per cent will be for disabled ex-servicemen and family of deceased soldiers while the remaining 75 per cent will be kept for all other ex-servicemen The cabinet also approved the requirement for residential status certificate or domicile certificate for candidates selected for various posts in Assam Police However SC ST and OBC candidates have been excluded from giving such residence proof certificates PTI TR HDA
