Pasighat smart city SPV to receive INR 194 Cr in first instalment

smart cityBy Accommodation Times Bureau

ITANAGAR

The Union Minister of Housing and Urban Affairs Hardeep Singh Puri said in reply to Lok Sabha that, the Special Purpose Vehicle (SPV) for Pasighat Smart City will receive the first instalment of Rs 194 crore soon.

The minister replied to a letter by the Congress MP Ninong Ering, from Arunachal East Parliament constituency regarding the constitution of SPV and release of fund to Pasighat Smart City.

The Puri in his reply informed that state government needs to contribute its matching share to the Pasighat Smart City project.

MP said that the next hurdle to the Pasighat Smart City is the 50:50 fund share ratio of the central and the state government.

The release said, Ering, “Informed that he would be demanding the Ministry change the ratio to 90:10, where the central (90%) and the state government (10%)  would contribute for funds respectively for the Pasighat Smart City.”

The SPV was constituted last year.

 

 

 

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