GUWAHATI, July 4 ? The State Government today constituted a high power committee to look into the affairs of Assam Polyester Cooperative Society Ltd (APOL) with Sri RC Barua, promoter-director of the APOL as the chairman. The committee, which has Sri D Sarma, Zonal Joint Registrar of Cooperative Societies, Assam and Sri MK Das, General Manager, AIDC, on it as members will ascertain the actual position of assets and liabilities as on June 1, 2002; recommend organisational, administrative and financial measures to make it organisationally capable of being run as an efficient commercial unit and wipe out the liabilities in 5 years.
Besides, the committee is also assigned with the task to fix annual targets for capacity utilisation, annual sales and profit for the next 5 years and also to recommend to the Government financial inputs and other inputs required to achieve the targets fixed above, said an official press release here this evening.
The Committee is to submit its report within 30 days. According to APOL sources here the committee has been constituted following a discussion of the APOL management with Industries Minister Sri Bhubaneswar Kalita last month. The APOL needs around Rs 60 lakh as of today to bring it to a position of profitable operation.