Tuesday, October 3, 2023
Top Stories

Implement SARFAESI Act in Nagaland: CNCCI

Logo Page

Dimapur, September 27: The Confederation of Nagaland Chamber of Commerce and Industry (CNCCI) has again called for implementation of SARFAESI Act in Nagaland with an amendment in tune with Article 371A.
In a press release, CNCCI insisted that implementation of SARFAESI Act in the State will help thousands of self-employed entrepreneurs to grow, and mitigate the unemployment scenario as the Government cannot support or employ every unemployed youth.
CNCCI chairman Dr Khekugha Muru and general secretary Dr Seyievilie Mor stated that the economic scenario and unemployment in the State has been further pushed to the edge with the COVID-19 pandemic with months of lockdown and with the returning of thousands of entrepreneurs and employees working in private sectors outside Nagaland.
“The CNCCI would like to inform the government that not every person is privileged sons and daughters of politicians and bureaucrats and unless the government desires to exploit the people without empowering its public, the government should not even have a second thought to provide such an opportunity to our people,” it said.
CNCCI reminded that it had on various occasions raised the issue of the need to implement SARFAESI Act, including a letter addressed to the Chief Minister dated 24 April 2020 flagging issues and concern confronting the business community especially during the pandemic times.
Further, CNCCI informed that it had raised and presented the need to implement the SARFAESI Act as a priority economic policy to the three working group under the core group headed by Additional Chief Secretary and Development Commissioner of Nagaland, which was entrusted by Strategic Committee for Economic Affairs headed by the Chief Minister to draw a road map for the economic development of the state vis-à-vis pandemic lockdown.
“Yet again the whole exercise looks like another procedural fulfillment to be dumped to dust in some office,” it lamented.
The CNCCI said it was very optimistic that issue of the SARFAESI Act will be addressed in the 2020 monsoon assembly session, but much to the dismay of the Naga entrepreneurs and Naga business community, the State Government did not take up the issue despite knowing that it was the most important and pressing issue considering the grim economic scenario of the State and the future of thousands of entrepreneurs and unemployed youths.
Reminding the Government that in a fast-changing economic scenario any important economic policy that is delayed even for one financial year can be equated with a generational loss as market and entrepreneurial opportunity does not remain static, the confederation urged the State Government to call for a special session and address the issue at the earliest “if at all the State Government is serious about our local entrepreneurs, improvement of the state economy, and creating avenues for unemployed people.”
Meanwhile the CNCCI on behalf of the business community of Nagaland thanked the Government for the rollback of COVID cess on petroleum products, and at the same time hoped that in future the Government will consult the stakeholders on a policy matter that will have huge implications on the ground and on the State economy. (Page News Service)