In a significant development, the United Liberation Front of Assam (ULFA) has signed a tripartite peace pact with the Union and Assam governments, marking an end to decades-long insurgency in the state.The agreement, inked in the presence of Union Home Minister Amit Shah and Assam Chief Minister Himanta Biswa Sarma, aims to address various political, economic, and social challenges in Assam.Amit Shah has assured the ULFA representatives that the government would implement the agreement in a time-bound manner and that a committee, working with the Assam government, will oversee the fulfilment of the agreement.As part of the accord, a substantial development package will be provided to Assam.The peace pact will also secure cultural safeguards and land rights for the indigenous people of the state.Assam has seen prolonged suffering due to militancy and ULFA violence, which claimed 10,000 lives since 1979.However, the ULFA's hardline wing, led by Paresh Baruah, did not participate in the accord, as Baruah has consistently rejected government overtures.This development comes after the ULFA faction, led by Arabinda Rajkhowa, initiated unconditional discussions with the central government in 2011.The ULFA, founded in 1979, had advocated for a 'sovereign Assam' and has been involved in subversive activities, leading to its prohibition by the central government in 1990.Follow ABP Live for more such news and the latest updates from Assam and Northeast India.