Jammu, Jan 14: A High Powered Committee under the chairmanship of Financial Commissioner, Finance Department Dr. Arun Kumar Mehta has approved 83 projects worth Rs 1010.55 crore across Jammu and Kashmir union territory under Jammu & Kashmir Infrastructure Development Finance Corporation (JKIFDF).
The meeting was chaired by Financial Commissioner, Finance Department Dr. Arun Kumar Mehta attended by over a dozen High Powered Committee members which held deliberations regarding different projects across Jammu and Kashmir UT.
As per an official communiqué, the High Powered Committee “After a threadbare discussion 83Projects for an amount of Rs 1010.55 crore were approved for funding under JKIDFC.
The approved projects will have to undergo some principle subject and conditions laid by the committee.
“All 83 projects shall have Administrative Approval, Technical Sanction and Detailed Project Reports vetted by the Competent Authority” official communique said.
Guildiens laid by the committee for the projects includes “Only the balance Cost to be funded under JKIDFC. Department shall ensure Geo-Tagging of all projects. No cost escalation for any work shall be admissible. Works to be completed within the Allotted Cost of the work within two years. Copy of Vetted DPR shall be returned by JKIDFC for reference.”
After the approval, the committee decided that”The Expenditure with respect to CRF works is reimbursed fully by the Government of India which shall be taken as a Revenue accrual towards JKIDFC for debt servicing”
The official communique said that the committee deliberated on the projects that have been forwarded by the Departments for dropping from funding under JKIDFC.
“The Chairman directed that all such projects shall be immediately dropped from funding under JKIDFC and a detailed audit and enquiry report of these dropped projects shall be submitted by the Director-General, Expenditure Division-II within one week”, the official communique suad as per KNO.
The committee also discussed languishing projects and said that One Project of Public Works (R&B) Department namely “Construction of the road from Rehan to Dhar Sakri via Damote”, which was dropped from the approved Jist in the 10th HPC meeting due to a change in balance cost of the project, stands approved by the High Powered Committee for a balance cost of Rs 8.8970 crore forwarded by the Department in the relevant format.
One Project of Jal Shakti Department namely “Remodeling & Renovation of Division Office and Circle Office Building at Budgam” for an amount of Rs 1.3600 crore was not considered appropriate for funding under JKIDF, the high powered committee communique said. (KNO)