Meghalaya Cuts Polo Market Rent After Failed Bids

Shillong: The Meghalaya government is slashing rental rates at the Polo Market complex. Three previous attempts to find tenants failed. Deputy Chief Minister Sniawbhalang Dhar confirmed the state will float a fourth Expression of Interest within the week. High costs scared away business owners.

Dhar admitted the initial pricing strategy was a mistake. "We have floated the EOI three times, but no one has responded. The rates were too high. We have decided to go again for an EOI, but this time we will reduce the rates," he said. The state wants the doors open soon.

Officials are shifting tactics to drum up interest. Entrepreneurs can now bid on the entire facility or just smaller sections. This shift aims to give small business owners a fair shot at a lease. Meanwhile, work on the nearby Business-cum-Tourism Centre nears the finish line. The government plans to seek operators for that site shortly.