‘All works funded through JKIDFC shall have to be completed before next fiscal’
Srinagar, Oct 3: In a significant move, the ‘High-Powered Committee’ (HPC) for unfunded/languishing projects today approved 241 projects across Jammu and Kashmir worth Rs 570 crore to be recommended for funding through newly constituted J&K Infrastructure Development Finance Corporation (JKIDFC).
The projects were approved at the maiden meeting of HPC convened under the chairmanship of Principal Secretary, Finance, Navin K Choudhary.
Principal Secretary Planning, Development and Monitoring Department, Rohit Kansal and Commissioner Secretary, Public Works, Khursheed Ahmad, who are members of the HPC, and Secretary School Education, Ajeet Kumar Sahu along with other senior officers attended the meeting.
“Due to a host of reasons, these projects have been lingering for a long time. But now these have been approved for funding through JKIDFC, the officers of the concerned departments will have to ensure that these projects are completed before the start of next financial year,” Choudhary said.
During the meeting, the HPC approved recommending to JKIDFC the construction of 26 school buildings of J&K’s School Education Department and 151 projects including bridges, etc under Public Works Department, besides projects from other Departments.
The HPC also approved JKIDFC funding worth Rs 179 crore for projects in Kargil and Leh districts of the arid Ladakh region which includes roads, bridges, additional classrooms, playgrounds, sports complex, etc.
Choudhary directed the officers to prepare a comprehensive list of all the projects which are pending in different parts of state due to lack of adequate funding and cost overrun. It was also observed that some of the projects were not taken up due to procedural delays.
The Principal Secretary Finance said that the process for approval of unfunded/languishing projects has formally begun with today’s meeting and such meetings would be held at regular intervals to ensure their assured funding and time-bound completion. He said next meeting of the HPC will be held on Monday in which the unfunded/languishing projects of other departments will be scrutinized and later recommended to the IDFC for funding.