Assam Cabinet on Thursday has approved a total of 700 crores for the employees of Hindustan Paper Corporation (HPC).

Out of the 700 crore package, Rs 570 crore will go as a relief package to pay the dues of the employees, while the remaining will be used to pay other bills like electricity charges and payment to the liquidator, he said.

After the formalities, the 470 acres of land owned by the HPC's unit at Cachar and Nagaon mill in Jagiroad will be transferred to the state government.

For the last few years, Cachar and Nagaon paper mills have been non-functional. It is to mention that 93 employees of the two paper mills have died in the last 58 months.

The employees of the two paper mills are yet to receive salaries for at least 55 months.

Further, the cabinet also approved Rs 1,800 crore to waive microfinance loans availed by poor women.

Around 11 lakh women will be benefited by this, CM Sarma said.