Shillong: Opposition leader Dr. Mukul Sangma warned Meghalaya faces a debt trap. He says the state pays old loans with new ones. This risks total insolvency. Sangma pointed to recent Comptroller and Auditor General findings. He claims the Public Accounts Committee fails to follow up on identified loopholes.
He credits his time as Chief Minister for current access to soft financing via externally aided projects. Yet, he warns against overzealous borrowing. He demands a strict audit of costs against actual work. He wants the government to compare the bill of quantities with physical outcomes. "If projects are selected at random and an audit is conducted by verifying the bill of quantities against actual expenditure, the truth will come out," Sangma said.
Sangma specifically highlighted a water supply scheme. That project costs about Rs 850 crore. He questioned the math behind the Engineering, Procurement and Construction contract. The bidding process lacked competition. Now the state faces uncompetitive pricing. He demands more accountability for both internal revenue and borrowed cash.
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