GUWAHATI: In a recent development aimed at securing the financial well-being of key public enterprises, the Assam Cabinet has made the decision to convert government loans and unpaid interest amounts, as well as grants provided to AIDC, ASIDC, ATCL, and Ashok Paper Mills Ltd (APM Ltd), which fall under the administrative control of the Industries, Commerce and Public Enterprises Department, into equity.
The conversion process involves the transformation of various financial elements as outlined below:
• A loan of ₹86.34 crore and unpaid interest of ₹18.57 crore for AIDC
• A loan of ₹2.03 crore, grants amounting to ₹1 crore, and unpaid interest of ₹18.94 crore for Ashok Paper Mills (Assam) Ltd
• Loan and grants from ASIDC totaling ₹9.86 crore, which encompasses an outstanding principal loan amount of ₹2.92 crore and grant-in-aid worth ₹2.17 crore
This shift will not only provide these public enterprises with a more robust financial foundation but also pave the way for efficient and sustainable operations.