GUWAHATI, March 18 – The Bharatiya Janata Party (BJP), Assam Pradesh, on Sunday demanded an immediate public response from the Assam Financial Corporation (AFC) in connection to an advertisement published in newspapers today.
The AFC released an advertisement in the newspapers seeking proposals for venture capital funding to the tune of Rs 1 crore by the next two working days.
Reacting sharply to the developments, BJP State General Secretary Prodyut Bora said, “Possibly nowhere in the world can so much money be obtained so easily in so quick a process. Does AFC stand for Assam Financial Corporation or Alladin’s Financial Cave.”
Bora reminded that a business proposal is not a rough note one writes at the back of an envelope. “Can one get Rs 1 crore of funding by turning in a proposal that is a day’s effort? Going by a recent advertisement issued by the Assam Financial Corporation (AFC) one might be pardoned for thinking so,” he said.
Bora asserted that a business plan is a comprehensive document that outlines an entrepreneur’s business objectives, marketing plans, financial projections, etc, and requires at least a month of study and preparation. “In that case, how can AFC put out an advertisement on a Sunday, and expect potential entrepreneurs to return with their plans by Tuesday?” he asked.
The AFC advertisement also states that “application form and other details” can be downloaded from the AFC website. But Bora alleged that the link to the advertisement itself does not work.
Meanwhile, the Assam Financial Corporation, through a press release, has clarified that the last date for submission of proposals for the financial year 2011-12 should be read as March 28, 2012 instead of March 20, 2012.