After delay of 9 months, Union Ministry of Housing and Urban Development has finally given go-ahead to the release of funds for Srinagar and Jammu Smart Cities Projects following the fulfillment of requisite formalities by the state government.
The first installment of Rs 195 crore is likely to the released by this week, a senior government official informed.
Chief executive officer, special purpose vehicle (SPV), for Srinagar Smart City, Farooq Ahmad Lone said: “Creation of the SPV for the project and its registration as Srinagar Smart City Limited (SSCL) took some time. Moreover, the company had to hold a meeting of board of directors before submitting the papers to the union ministry.
“Now all the papers stand submitted and the procedures completed. Therefore, the government of India has approved our proposals and the funds will be released by it anytime now,” he said, adding that various proposal under the smart cities for upgrading infrastructure and preserving heritage sites “have got nod from the government of India.”
Lone who is also the CEO JKERA said the first installment of the Smart City Project will be released in a few days. “The staff required to manage the company will be in place by April.”
PROPOSALS
As per detailed project report submitted by the SPV, the state government has proposed steps to promote Srinagar heritage under its project “revival of heritage discovery; revival, development of hospitality and tourism infrastructure; and upgrading historic market and craft revival.”
The other proposals include: “Resilient sustainable and live-able Srinagar with urban mobility and smart utilities involving introduction of electric buses, smart bus stops with passenger stops, bicycle sharing cycle stands, multi-level parking lots.”
As per the DPR there are sub-projects such as e-governance disaster management, environment protection which will be taken under smart city.
BACKGROUND
Both Jammu and Srinagar, the twin rotational capital cities of state made it to the list of 30 smart cities announced by the GoI on June 23, 2017.
Srinagar figured at no. 10 and Jammu at no. 21 in the list of 30 smart cities, which were selected through competition from out of a total of 45 cities that contested in the third round.
Following announcement, the state government vide Order No. 1081-GAD dated August 21, 2017 ordered creation of SPVs—Jammu Smart City Limited and Srinagar Smart City Limited, which were subsequently registered as limited companies under Companies Act.