NEW DELHI, June 11 – Assam Government has sought Rs 170 crore incentive package from the Union Commerce Ministry for attracting investors to buy the Assam Tea Corporation (ATC).
In a memorandum to the Union Commerce and Industry Minister, Kamal Nath, the State Government has petitioned him on a whole range of issues ranging from trade with ASEAN countries, Inland Transport assistance to sharp fall in price of tea to matter relating to waiver of excise duty. The State Industries Minister, Bhubaneswar Kalita who was in the capital, met the Union Commerce and Industries Minister yesterday and discussed the problems of ATC. The Government of Assam in keeping with the policy decision of the Union Government had decided to privatise the gardens of ATC with the objective of its revival.
However, due to mounting liabilities of over Rs 140 crore and huge investment requirements, potential investors have sighed away. It is hence felt necessary to offer incentives to attract prospective investors to take over the ATC, the Minister said.
“The Government of Assam does not posses the required resources to offer an attractive package to the prospective investors on its own and therefore I would request you to consider to offer the incentives from Government of India to be incorporated in the package to be offered to the potential investors,” Sri Kalita said.