Heavy Investment In Power Sector Needed: MP Ninong Ering

GUWAHATI: Arunachal Congress MP Ninong Ering said in spite of being endowed with rich natural resources and massive hydroelectric potential, Arunachal Pradesh is yet to taste the fruits of development. The MP made this statement in a report submitted to the Union Minister of Trade and Commerce. The report titled “Scope of Trade and Commerce in Arunachal Pradesh”, outlined the various sectors where much is needed to be done in order to push Arunachal Pradesh into the path of development.

Ninong Ering said heavy investment in the development of hydroelectric capacity can reduce the State’s dependence on the Centre. However, a carefully designed strategy for establishing specific industries having strong forward and backward linkages is the need of the hour.

“The hydro-power potential of the State has been much talked about. But the success of this sector depends on massive investment in the power sector both by the public as well as the private sector. Making the private sector interested in long-term and heavy investments in the State requires an imaginative public policy. Effective and efficient institutional structures are key to the development process.

“The inability of the State to transform its rich natural endowments into the flow of income and other forms of social well-being is usually traced to its historical legacy of semi-seclusion and sparse settlement of population. The market institutions are still underdeveloped in many respects, and there is plenty of regional variations in the degree of integration with the market economy, Ninong Ering stated in the report.

He further pointed out that there should be a strategy in place where utmost importance is given to employment generation and reduction of inequalities in the distribution of income and assets, the report pointed out.

“In order to reduce the transactions cost, institutions should be strengthened and their opacity removed. Induction of new technology and new organisation of business activities should be the guiding principle of the new policy and since success in innovations comes from learning by doing from the best firms, necessary incentives should be provided to induce the most efficient firms to locate their operations in Arunachal Pradesh,” the MP further added.

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