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SHILLONG: The cabinet on Thursday raised the borrowing limit of MeECL to enable it to generate revenue.
Briefing reporters after the cabinet meeting on Thursday, the Chief Minister Mukul Sangma said that the borrowing limit was raised from 1910 crore to 2500 crore so that MeECL can reduce the losses.
To a question, the chief minister said that if the borrowing limit was not raised, the only option before the government would be to provide grants to MeECL which would not be viable for the government.
“While there is not much problem with the generation of power, the MeECL will have to address the issues related to transmission of power”, he said.
The chief minister said the government wanted to support MeECL to enable it to function as an effective corporate house.
Nod to fisheries rules
The cabinet also approved the Meghalaya Fisheries Service Rules 2017 to enable the government to create posts and facilitate promotions in the fisheries department.
The chief minister said that creation of posts and promotions by amending the Meghalaya Fisheries Service Rules 2005 will finally improve the efficiency of the fisheries department.