Panel reconstituted to ensure transparent bidding process for JKCL disinvestment

Representational Picture
Representational Picture

Jammu, Feb 24: The government on Friday reconstituted Committee for ensuring transparent bidding process in respect of disinvestment of Jammu & Kashmir Cements Limited (JKCL)

As per an order issued by the General Administration Department (GAD), the panel has been reconstituted in supersession of all previous orders on the subject. The committee will have the Administrative Secretary, Industries & Commerce Department as chairman while the Administrative Secretaries of Housing and Urban Development; Labour & Employment; Planning, Development & Monitoring; Revenue and Mining Departments; Secretary of Department of Law, Justice and Parliamentary Affairs; Secretary or Special Secretary (Technical) Forest, Ecology and Environment Department; Director General (Codes), Finance Department and Transaction Advisor will be its members.

Managing Director, J&K Cements Limited will be its member secretary. Administrative Secretaries of PW(R&B); Power Development and Jal Shakti Departments besides PCCF/Chief Wildlife Warden; Divisional Commissioner and Deputy Commissioner concerned; Vice Chairman or CEO Development Authority concerned and Director General (Budget) Finance Department will be the special invitees. As per the terms of reference of the Committee, it will identify the model for disinvestment of the J&K Cement Limited; approve the process, including through a RFP (Request For Proposal) for hiring the Transaction Advisor, and associated third-party experts, such as the Legal Advisor and Asset Valuer, if necessary.

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