Confederation of Nagaland Chamber of Commerce and Industry (CNCCI) has urged upon the State government to call a special Assembly (NLA) session immediately to discuss implementation of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, if it was serious about local entrepreneurs, improvement of the State’s economy and creating avenues for unemployed people.
In a release, CNCCI chairman Dr Khekugha Muru and general secretary Dr Seyievilie Mor cautioned the government that in a fast-changing economic scenario, any important economic policy delayed even for one financial year could be equated with a generational loss as markets and entrepreneurial opportunities do not remain static.
Asserting that Implementation of SARFAESI Act in the State would help thousands of self-employed entrepreneurs to grow, the trade body said it would also mitigate the problem of unemployment in the State as the government cannot support or employ every unemployed youth.
CNCCI said it had been “very optimistic” that issue of SARFAESI Act would be addressed in the monsoon Assembly session. However, much to the dismay of Naga entrepreneurs and Naga business community, it said the State government did not take up the issue despite knowing the fact that it was the most important and pressing issue considering the grim economic scenario of the State and the future of thousands of local entrepreneurs and unemployed youth, the release added.
Pointing out that economy has been further pushed to the edge after months of lockdown and return of thousands of citizens of Nagaland working in private sectors outside the State due to COVID-19 pandemic, CNCC reminded the government that not everyone was a privileged son or daughter of politicians and bureaucrats.
It said unless the government desired to exploit the people without empowering them, then it should not have a second thought in providing opportunities to them. CNCCI reminded that it had on various occasions raised the issue of the need to implement SARFAESI Act in Nagaland with an amendment in tune with Article 371A.
CNCCI claimed that it had raised the issue of implementing the Act as a priority economic policy to the three Working Groups under the Core Group headed by additional chief secretary and development commissioner, which were 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 the pandemic-induced lockdown. “Yet again the whole exercise looks like another procedural fulfilment to be dumped to dust in some office,” it added.
Meanwhile, on behalf of the business community, CNCCI thanked the government for revoking COVID cess on petroleum products, even as it requested and hoped that in future the government would consult stakeholders on policy matters that have huge implications on the ground and on the State’s economy.