Productive economic activities important for development: Dy CM

By A Staff Reporter

IMPHAL | Oct 18

Deputy Chief Minister of the state, Yumnam Joykumar Singh today said that productive economic activities are important for development. He was speaking at the launch of “Uripok Green City” project of Panthoibi Housing Finance Company Limited (PHFCL).

The project was launched today at Classic Grande, Chingmeirong.

The deputy chief minister speaking as the chief guest of the function said that this project by PHFCL is a way of fostering economic activities of our state. He appreciated and congratulated the efforts and initiatives of PHFCL for starting such an urban project in the state. He lauded the managing director, Th. Hemo Singh, saying he is taking a risk for working in a no-income generating field.

As the finance minister of the state, he also said that the present financial status is not healthy and added that he welcomes any income generating projects for improvement of the economy.

Education minister, Th. Radheshyam Singh also attended the function as guest of honour. He stressed on the importance of town planning. He cited the example of ancient cities like Mohenjodaro, Harappa and others asserting that drainage system were good because they are prioritised while planning towns.

He said that Manipur economy is poor and therefore offers little income generating avnues. The efforts of PHFCL is not only helping the state to grow but also giving employment to the more than lakhs educated unemployed youths.

Chairman and managing director of PHFCL, Th. Hemo Singh said that in “work more, talk less” is the thrust of his plans in his keynote speech. He said he has chosen Uripok as his first target in urban category.

“I am only converting the dream of Prime Minister Narendra Modiji’s PMAY project and have given loans of up to Rs.3 crores till date,” he said.

The chairman added that there are also other projects such as Panthoibi Construction and Panthoibi Foundation, which are educational institutions. He has so far helped five to six students and kept them under his supervision.

During the function, loans amounting to Rs. 10 lakhs and Rs. 8 lakhs respectively were distributed by the chief guest to three selected loan applicants.