Shillong: The Hynniewtrep Youth Council wants the Public Accounts Committee of the Meghalaya Legislative Assembly to open an investigation into state investments. The group targeted Rs 4,444 crore sunk into 22 State Public Sector Enterprises. Returns are abysmal. Government data shows these investments yielded just Rs 0.20 crore during the 2024-25 fiscal year.
HYC president Roy Kupar Synrem filed a formal petition demanding a full audit of these financial sinkholes. CAG reports confirm the massive investment figures stood at Rs 4,444.43 crore by March 31, 2025. Despite the losses, the government pumped another Rs 467 crore into these businesses last year. Debt costs are piling up too. The government is borrowing cash at an average interest rate of 5.31 percent to fund enterprises that essentially pay nothing back.
Synrem wants answers on the rationale behind the spending. "Public money of this scale should not remain unaccounted for on paper," Synrem said. The council wants the committee to investigate the source of funds and the due diligence process. Their demands include a review of three profitable firms that refused to pay dividends and two enterprises that have gone defunct. The group is calling for a time-bound Action Taken Report to force transparency.
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