Political drama stalling GIM projects progress monitoring

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Follow us:WhatsappFacebookTwitterTelegram.cls-1{fill:#4d4d4d;}.cls-2{fill:#fff;}Google NewsThe Karnataka Industries Department is conducting weekly review meetings as opposed to monthly review meetings to monitor the progress of Memorandum of Understanding (MoU’s) signed during the Global Investors Meet, 2012.Former chief minister D V Sadananda Gowda, had said during the two-day event that there will be a high powered committee chaired by the Chief Secretary every month to monitor the progress of the MoU. There will be another Cabinet sub-committee headed by him to monitor their progress every three months, he added.Contrary to claims made by the government, sources claim that no review meeting has been conducted so far. They cited the ongoing political crisis regarding leadership change as the main factor hampering efforts to realise MoU’s into reality.Gowda had suggested review measures to provide a ‘hassle-free’ experience to investors and also due to the low implementation rate of the earlier edition of GIM. Admitting that there was low implementation rate for the earlier edition, state industries minister Murugesh Nirani had said that they would attempt to achieve a hit rate of 60-70 per cent of the new MoU’s signed in GIM-2012. Prior to the investors meet, Express had reported that the government had only four per cent success rate of MoU’s signed during GIM-2010, a concern echoed by prominent investors like S R Jindal from Jindal Aluminum.Highly placed sources told Express that the government would bring GIM-2012 implementation on track ‘as soon as the political drama ends’. Stating that the minister was ‘preoccupied’ with the ongoing political crisis, sources said that all measures would be taken to bring projects on track at the earliest. Dismissing speculation surrounding the review meetings, Industries Commissioner Maheshwar Rao said: “So far four review meetings have been held under the chairmanship of the state chief secretary.”first published:January 01, 1970, 05:30 ISTlast updated:January 01, 1970, 05:30 IST
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The Karnataka Industries Department is conducting weekly review meetings as opposed to monthly review meetings to monitor the progress of Memorandum of Understanding (MoU’s) signed during the Global Investors Meet, 2012.

Former chief minister D V Sadananda Gowda, had said during the two-day event that there will be a high powered committee chaired by the Chief Secretary every month to monitor the progress of the MoU. There will be another Cabinet sub-committee headed by him to monitor their progress every three months, he added.

Contrary to claims made by the government, sources claim that no review meeting has been conducted so far. They cited the ongoing political crisis regarding leadership change as the main factor hampering efforts to realise MoU’s into reality.

Gowda had suggested review measures to provide a ‘hassle-free’ experience to investors and also due to the low implementation rate of the earlier edition of GIM. Admitting that there was low implementation rate for the earlier edition, state industries minister Murugesh Nirani had said that they would attempt to achieve a hit rate of 60-70 per cent of the new MoU’s signed in GIM-2012. Prior to the investors meet, Express had reported that the government had only four per cent success rate of MoU’s signed during GIM-2010, a concern echoed by prominent investors like S R Jindal from Jindal Aluminum.

Highly placed sources told Express that the government would bring GIM-2012 implementation on track ‘as soon as the political drama ends’. Stating that the minister was ‘preoccupied’ with the ongoing political crisis, sources said that all measures would be taken to bring projects on track at the earliest. Dismissing speculation surrounding the review meetings, Industries Commissioner Maheshwar Rao said: “So far four review meetings have been held under the chairmanship of the state chief secretary.”