Meghalaya to encourage private investors

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Shillong, May 15 (UNI) The Meghalaya Progressive Alliance government has decided to encourage private investors to create local avenues and accelerate the pace of development in the state.

The government would soon come up with appropriate policies in this regard and ask the private companies to work with the government on a public-private partnership (PPP) mode with the Centre envisaging a progressive growth rate of 7.3 per cent for the state during the 11th Five-Year plan.

''If we are to catch up with the rest of India, Meghalaya has to grow at a pace of eight per cent during the 11th Five-year plan. I am sure, if investment is made strategically, we would be easily able to not only meet the target, but also achieve higher growth,'' Finance Minister Conrad K Sangma said.

Exuding confidence that the state would succeed in achieving the target, Mr Conard said Meghalaya is gifted with good agro-climatic conditions, rich biodiversity, breathtaking landscapes and natural resources and this could be harnessed for the state's economic development.

''The state has great potential in the sectors like Information Technology, Tourism, Power and Horticulture, which can create local jobs,'' Mr Sangma said.

He, however, said these sectors could not be developed without large scale investment.

The state government would pursue these initiatives with private sector participation through a transparent joint-venture mode, he said.

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