Dimapur, September 20 (MExN): With Nagaland fiscal deficit mounting and the state economy at all time low, the Business Association of Nagas (BAN) on Monday said that the Naga future ‘looks very bleak’ unless the people envisage generation of revenue by opening up oil exploration in the state.
In an open representation to the Minister of State for Petroleum & Natural Gas, Labour & Employment on Siesmic Survey Operation and Studies, the BAN stated that the Nagaland Government is losing out on major financial benefits and long term gainful employment and business opportunities that can be generated out of oil exploration and production activities. However, it said that there are colossal economic losses to the state and the country “just because of the tussle between the Centre and State Government over the policy decision” This needs to be immediately addressed so that we should experience the fruit of the State resources instead of wholly depending on the mercy of the Central Government, the representation stated.
Describing itself as a conglomeration of first generation entrepreneurs working for the upliftment of the economy and by changing the mindset of the young people towards business, the BAN proposed that the DAB (Disturbed Area Belt) between Assam and Nagaland be opened up for exploration and extraction on revenue sharing basis between the two states.
“The Central Government should immediately give clearance to State Government for issuance of PEL license to PSU/ NOC in order to invest in the State and ascertain hydrocarbon prospects and reserves within the awarded Block. The geological & geophysical (G&G) data that will be acquired (at no cost to the State Government) will be processed and analysed to confirm the presence of hydrocarbon reserves which will be of great value and significance to the Government in future,” it suggested.
Further, the BAN pointed out that Nagaland’s Lok Sabha MP Tokheho Yepthomi, in a recent statement, underscored pertinent issues regarding oil fields along Assam-Nagaland boundary, when he highlighted that while Assam earns thousands of crores as royalty from crude oil, Nagaland loses Rs 5 crore per day on oil revenue.
“This is the reality of our State. We want to be a major contributor in the nation’s GDP. The irony is that while we have been blessed with abundant natural resources, we are languishing in one of the most adverse infrastructure, sinking deep as one of the most unsuitable state in the country to live,” it stated.
Opining that ‘Economic Activities’ through industrialization can only bring about long term sustainability, gainful employment opportunities and all round development for the State and the Nation, the representation stated “It is time for the State Government to use its privilege and act proactively to bring about this exploration in the State with no more procrastination.”
The Centre should release all the clutches that had hindered the state to move forward if the state has to contribute its due share in the nation building, it added.
