‘1239 languishing projects funded by JKIDFC completed’

‘1239 languishing projects funded by JKIDFC completed’
File Photo Additional Chief Secretary, Finance of Atal Dhulloo

Jammu: A review meeting of Jammu & Kashmir Infrastructure Development Finance Corporation (JKIDFC) was today held under the chairmanship of Additional Chief Secretary, Finance, Atal Dulloo here at Civil Secretariat.

The meeting was attended by Showkat Hussain Mir, Executive Director, JKIDFC; Shafaat Yehya, General Manager, JKIDFC; Nimisha Abrol, Project Manager, JKIDFC and other officials of the Corporation.

Dulloo, who is also the Chairman and Managing Director (CMD) of the corporation appreciated the contribution made by the JKIDFC effectuating its recognition at the National level in the shape of the award conferred on it recently by the Union Government. He asked the corporation to continue this march vigorously for changing the infrastructure landscape of J&K.

He stressed on the need to complete the projects in a time-bound manner for which regular monitoring shall be put in place. He emphasised on regular conduction of BODs meetings for discussing certain strategic issues related to improvement in the working of the corporation. He maintained that these steps are essential to achieve greater milestones and recognition at the highest level.

On the occasion, the CMD also reviewed the progress made by JKIDFC till date. It was stated that a total of 2357 projects have been approved in HPCs for funding under JKIDFC for an amount of Rs. 7110.78 crore out of which 1239 projects for an amount of Rs 1748.65 crore have attained physical completion.

It was also put forth by the officials of JKIDFC that till date disbursements to the tune of Rs 2270.08 crore with 4637 payments for 1923 projects was made out of the total 2500 crore loan lifted from different financial Institutions and Nationalized Banks.

The CMD was apprised that JKIDFC has achieved tremendous transparency by incorporation of online payment tracking mechanism, delay mechanism, tender details/allotment information and geo-tagging of all the projects approved for funding under the languishing scheme of JKIDFC that in itself is a unique model across the country.

The CMD was also briefed about the incorporation of linking every project approved under JKIDFC with Google Earth for real time monitoring which is readily available for public viewing on the official website of JKIDFC. It was stated that these measures had been taken to ensure the quality and timely completion of all these infrastructure projects languishing in the UT for a long time.

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