‘Escrow account in SBI to ensure transparency and curb fund misappropriation’
Tura, Oct 7: The decision to open an Escrow account with the State Bank of India for GHADC salary disbursement, in which the fund provider and the receiver (in this case the Council) will be parties to the agreement with the SBI as the neutral body, will ensure transparency and put a check against any possible misappropriation, says Charmingstar N Sangma, retired bureaucrat and senior member of the Sub-Committee.
This clarification was made on the sidelines of a meeting held at the Deputy commissioner’s office in Tura today between Chairman of the GHADC Sub-Committee and DC Vibhor Agarwal and members of the committee.
Explaining the importance of having an Escrow account, Charmingstar N Sangma said it is a trust-based account where the bank acts as a neutral third party between two sides. “It is slightly different from other accounts because both- the fund allocator and the receiver, are part of the agreement and the SBI acts as the neutral third party. The advance funds that the state will release to the council will go directly into this account,” said Sangma.
On queries raised from some quarters about the setting up of such an account for the GHADC, the former bureaucrat clarified that it is being done to ensure both parties have an understanding and knowledge about the fund allocations so as to prevent any unforeseen difficulties from arising, particularly misappropriation of funds. “There is no denying that the unpaid dues of the council employees for close to four years can be traced to this particular problem.”
Dismissing fears of any government interference into the functioning of the Council because of the Escrow account creation, Sangma said the objective is solely to ensure money meant for staff salaries reaches the workers.
Clarifying further, he informed that no politician or political head from either the state or the Council can sign on the agreement, not even the Chief Executive Member, the Deputy CEM or any elected MDC can put their mark on it. Only the responsible officer from the District Council Affairs will sign on behalf of the state and an executive officer from the GHADC will do the same.
“This Escrow account is being created to curb any attempt at funds misappropriation. This is a win-win situation for everyone,” said Sangma.
On the same wavelength, another member of the Sub-Committee and Principal of Don Bosco College Tura, Fr. Januarius S. Sangma, informed that the disbursement of the 12 months’ salary will be completed on or before October 15. He added that the Sub-Committee will continue to explore ways to further improve the functioning of GHADC by consulting various stakeholders and organizations.
Fr. Januarius also stated that the first priority of the Sub-Committee was to ensure the disbursement of pending salaries, and with that now being accomplished, the second priority will focus on finding ways to clear the remaining dues of GHADC employees. He appealed to the public to bring any issues to light through constructive discussions for the betterment of the GHADC.
