Our Correspondent
Kohima, Aug. 7: The Nagaland Legislative Assembly introduced the Nagaland Protection of Interests of Depositors (In financial establishments) (Amendment) Bill, 2018 and the Amity University, Nagaland Act 2011 (repeal) Bill, 2019 on Tuesday.
The Chief Minister of Nagaland Neiphiu Rio, who is also the Minister of Finance, introduced the Interest of Depositors Bill to check the activities of financial establishments engaged in the business of receiving deposits under various schemes from the public and to safeguard the interest of the depositors.
Rio stated that the Nagaland Protection of Interests of Depositors (In financial establishments) (Amendment) Bill 2018 will bring into effect a comprehensive mechanism to check and regulate the activities of financial establishments in the State.
In its financial memorandum, the chief minister also stated that the introduction of the bill will entail expenditure from the consolidated fund of the state as certain functionaries namely special courts in the rank of district and sessions judge and special public prosecutors have to be appointed to execute the provisions of the bill. However, an estimate of the expenditure involved is yet to be made at this stage, it stated.
The Minister for Higher and Technical Education and Tribal Affairs, Temjen Imna Along also introduced the Amity University Nagaland Act 2011 (repeal) Bill 2019.
Along stated that the objective of passing the bill was to repeal the Amity University Nagaland Act 2011. “Even after eight years of passing the act, the sponsoring body failed to deposit the downtown fund and further failed to establish the university and there has been no initiative whatsoever from the body,” said Along.
Waterways project at Tizu River
Yitachu, MLA from the opposition, questioned the Minister of Transport, Civil Aviation and Railways department, P Paiwang Konyak on the status of the waterways project over Tizu River.
The transport department being the nodal department for the project, was initially under the planning and coordination department and was later transferred in 2015.
Konyak argued that due to lack of expertise, the state government requested IWAI to prepare a detailed project report for Tizu-Zungki river.
Yitachu further questioned whether the department has taken any decision for the waterways project. Konyak responded that for effective coordination and implementation of the projects, Nagaland Inland Waterways Board (NIWB) was constituted under the chairmanship of the chief secretary of Nagaland in 2016. He added that the state government has been providing logistic support and security to the detailed project report team, namely, WAPCOS during their visit to the site.
