Srinagar, June 26: In tune with the Jammu and Kashmir Reorganization Act, the J&K government has ordered transfer of seven industrial estates, and 20 percent stake and loans of two public sector undertakings to the newly carved out Union Territory of Ladakh.
Under J&K Reorganization Act, the assets and liabilities of erstwhile J&K state have been apportioned between the two UTs—J&K and Ladakh.
The J&K’s Industries and Commerce department in its order has formally handed over the control of some of its assets to UT Ladakh. “Sanction is hereby accorded to apportionment of assets/liabilities of erstwhile state of J&K on ‘as is where is’ basis to the UT of Ladakh or an entity designated by it with immediate effect,” reads an order issued by the Principal Secretary, I&C, Ranjan P Thakur.
As per the order seven industrial estates have been handed over to UT of Ladakh which includes Industrial Estate Leh, IE Khaltsi, IE Phyang, IE Nobra, IE Chanchik, IE Khurbathang and IE Changrathang along with land and its assets.
Besides, 20 percent of the equity and 20 percent of loans of J&K Small Scale Industries Development Corporation, J&K Trade Promotion Organization extended by the erstwhile government of J&K “are notionally, temporarily also transferred to UT of Ladakh”.
As per the order: “The employees of the corporation, companies, entities under the administrative control of Industries and Commerce department who are posted in the UT of Ladakh or otherwise shall be given the option to work in the UT of Ladakh or in any new entity to be set up by the UT of Ladakh and based on such option their services will be placed at the disposal of the UT of Ladakh or an entity designed by it.”
It says, “The exercise for seeking options and transferring staff of the corporations to the UT of Ladakh or to its designated entity shall be completed by December 31, 2021.”
The assets, liabilities and administrative posts of the erstwhile state of J&K have been apportioned between the union territories of J&K and Ladakh with effect from October 2020.
The apportionment was notified by the Lieutenant Governor Manoj Sinha-led Jammu and Kashmir administration. “The Lt Governor of Jammu and Kashmir, in terms of section 84(3) read with section 85(2) of the J&K Reorganization Act, 2019, is pleased to apportion the assets, liabilities and posts of the erstwhile state of Jammu and Kashmir between the UT of J&K and UT of Ladakh…,” a statement issued here said.
The apportionment would be in force with effect from October 31, it said.
On 5 August 2019, the Centre had abrogated the special status of the erstwhile state and divided it into two UTs.