57 projects to be dropped
SRINAGAR: The Jammu & Kashmir government has pulled up different departments for laxity in completion of languishing projects to be funded from the loan raised by the Jammu & Kashmir Infrastructure Development Finance Corporation Limited (JKIDFC).
A record note of a meeting chaired by Financial Commissioner, Finance department, Arun Kumar Mehta on December 18 reveals that performance of Industries & Commerce Department & Jal Shakti department was found unsatisfactory in execution of works cleared for funding from JKIDFC.
During the meeting, according to the note, a copy of which is lying with news agency—Kashmir News Observer (KNO), Mehta, who is also chairman & Managing Director JKIDFC, pointed out that the performance of I & C department was unsatisfactory and directed it to clarify the same on the file.
The performance Jal Shakti/ Irrigation and Flood Control department also was found below satisfactory by FC Finance, reads the record note.
The chairman also took serious note of non-tendering of projects by Tribal Affairs department and directed it to furnish a proposal for dropping the projects approved by a high-powered committee.
The minutes of the meeting also reveals that departments have identified 57 projects to dropped for funding from JKIDFC.
According to the record note, the Skill Development also submitted that projects approved for funding during 11th meeting of high-powered committee needs to be dropped due to cost escalation in balance cost of the projects.
In 2018, the State Administrative Council (SAC) approved the Jammu and Kashmir Infrastructure Development Finance Corporation (JKIDFC).
The JKIDFC has been authorized to raise a loan not exceeding Rs 8000 crores from various financial Institutions including state/ nationalized banks for completion of these unfunded, languishing projects.