J&K Govt clears Rs 812-cr funding for 315 pending projects

HPC releases money through JKIDFC for immediate completion

GK BUSINESS NEWS
Srinagar, Publish Date: Oct 10 2018 9:40PM | Updated Date: Oct 10 2018 9:40PM
J&K Govt clears Rs 812-cr funding for 315 pending projectsGK Photo

Jammu and Kashmir Government has accorded sanction to 315 long-pending projects for immediate completion with a funding of Rs 812 crore.     

According to an official spokesperson, the decision was taken on Wednesday in the second meeting of the high-powered committee (HPC) constituted for ensuring assured funding of languishing projects to complete them in set timeframe. The meeting was chaired by Principal Secretary, Finance, Navin K Choudhary, who is also the chairman of the committee.

Principal Secretary Finance, while giving details of the decision said the committee in today’s meeting cleared 315 projects of PHE, Tourism, R&B, Health and Industries and Commerce Departments involving an amount of Rs 812 crores.

Principal Secretary, Planning, Development and Monitoring, RohitKansal; Principal Secretary, Industries and Commerce, Shailendra Kumar; Commissioner/Secretary, PWD, Khurshid Ahmed Shah; Secretary, PHE/I&FC and DMRRR, Farooq Ahmed Shah; Secretary Tourism Department, RigzinSampheal and other officers of the Finance Department and Chief Engineers of various departments attended the meeting.

Choudhary said the approved projects would be funded for time-bound completion through Jammu and Kashmir Infrastructure Development Finance Corporation (JKIDFC).

The committee, he said, approved funding of 221 Water Supply Schemes across the state for an amount of Rs 459 crores which will be completed within a year’s time and will make a marked difference on the ground so far as drinking water supply is concerned. Remaining 150 schemes of PHE will be taken up in the subsequent meetings of the committee when PHE department completes the required paper work.

The committee also approved nine additional languishing projects of R&B department, requiring an amount of Rs 19.60 crore for completion.    In addition, the committee cleared funding of different component of Mubarak Mandi Project involving an amount of Rs 65.38 crores for completion.

The committee approved 48 incomplete projects of Health and Medical Education Department across the state for an amount of Rs 90.53 crores.  Further, the committee approved 31 projects of Industries and Commerce Department for completion at a cost of Rs 178.61 crores which will give a boost to promotion of industries in the state.

In its two meetings held so far, the high-powered committee has cleared 556 projects in various sectors across the state involving an amount of Rs 1,382 crore.  The first meeting of HPC was held on  October 3. 

The Principal Secretary said the meetings of the HPC would be held at regular intervals to ensure early processing and approval of all such projects which are languishing for want of funds. He said the third meeting of the committee is scheduled to be convened on October 22.

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