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NHPC loan a debt trap: NCP

By The Assam Tribune

ITANAGAR, May 28 � The NCP in Arunachal Pradesh today alleged that Rs 225 crore the state government had taken in advance from the National Hydro Power Corporation through a memorandum of agreement to revive the state-owned Apex cooperative bank during former chief minister Dorjee Khandu�s rule would put the state in a debt trap.

Contesting the government�s claim that the state would become a �power surplus� state when the NHPC projects are commissioned, the party alleged that the amount taken at a compound interest rate of 9 per cent belied the surplus power theory and also mortgaged the future of Arunachalees.�

Even if the NHPC�s 2000 MW Subansiri power project got commissioned by 2018, the principal amount along with interest would put the state into a debt trap, NCP state unit President Kahfa Bengia claimed in a memorandum addressed to Chief Minister Nabam Tuki and Union Power Minister Jyotiraditya Scindia. The Assam Government�s bargaining with the Centre for raising its share of free power and Krishak Mukti Sangram Samiti-led anti-dam movement, would reduce the free power share of Arunachal and extend the debt period at the same time, he argued. � PTI

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NHPC loan a debt trap: NCP

ITANAGAR, May 28 � The NCP in Arunachal Pradesh today alleged that Rs 225 crore the state government had taken in advance from the National Hydro Power Corporation through a memorandum of agreement to revive the state-owned Apex cooperative bank during former chief minister Dorjee Khandu�s rule would put the state in a debt trap.

Contesting the government�s claim that the state would become a �power surplus� state when the NHPC projects are commissioned, the party alleged that the amount taken at a compound interest rate of 9 per cent belied the surplus power theory and also mortgaged the future of Arunachalees.�

Even if the NHPC�s 2000 MW Subansiri power project got commissioned by 2018, the principal amount along with interest would put the state into a debt trap, NCP state unit President Kahfa Bengia claimed in a memorandum addressed to Chief Minister Nabam Tuki and Union Power Minister Jyotiraditya Scindia. The Assam Government�s bargaining with the Centre for raising its share of free power and Krishak Mukti Sangram Samiti-led anti-dam movement, would reduce the free power share of Arunachal and extend the debt period at the same time, he argued. � PTI

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