Government’s GIM claims questioned

Published: 14th June 2012 10:30 AM  |   Last Updated: 14th June 2012 10:30 AM   |  A+A-

The veracity of the state government’s claim that 730 MoUs and Expressions of Interest(EoI) amounting to `7.6 lakh crore had signed in Global Investors Meet (GIM-2012)is being questioned as their details have not been yet released.

The state government also hired Ernst and Young (E&Y) as knowledge partners. The company was in-charge of handling the paperwork and compiling the details of the MoUs signed. The  Chief Secretary presented district wise  and sectoral statistics. Only those pertaining to 34 big names like Tata Steel, Suzlon, GVK Energy and BR Shetty group amounting to `33,6475 crore have been released. But the details do not specify whether the signings were MoUs or mere EoIs.

Chief Minister D V Sadananda Gowda refused to share any information on the ratio of MoUs and EoIs at a press conference after the conclusion of GIM-2012 on Friday. On the other hand, Industries Minister Murugesh Nirani assured that details will be upload on the Advantage Karnataka website. But it has not been updated yet.

The EOI was not part of the previous edition of GIM-2010,where apparently 389 MoU’s amounting to `3.92 lakh crore were signed. However, most of these signed MoUs were not actualised in to projects. The government insisted that it would try to achieve a 60-65 percent ‘hit rate’ in the current edition.


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