The government has been contemplating to handover the prestigious Smartcity project to Inforpark as the former is in a state of limbo for past two years and consecutive talks with Smartcity Tecom officials have proved futile, informed Thomas Isaac, state Finance Minister.
The project, the foundation stone of which was laid in November 2007, is yet to take off due to differences between the State Government and Tecom, the promoters of the project, over issues like granting freehold right for 12 percent of the land allotted for the project.
While the government is sticking to the clause in the framework agreement that free-hold land right could be granted only after the completion of the master plan, the Tecom has been demanding the free-hold land right immediately.
Thomas Isaac said, the government would try to raise fund on behalf of Infopark. He also added that, the governmentâ€™s main goal would be to resist the ASEAN and price rise. The food subsidy would be raised. This yearâ€™s Budget would focus on Food Security and Agriculture sector, Thomas Isaac said.