Seeks explanation from departments
By: Ibni Maqbool
Srinagar: A High-Powered Committee (HPC) has taken a serious view of the misleading information submitted by departments about the two projects cleared for funding by the Jammu & Kashmir Infrastructure Development Finance Corporation Limited (JKIDFC), asking them to spell out the action taken against officials responsible for it.
Documents in possession of The Precious Kashmir reveal that two Departments-Industries & Commerce and Public Works Department- had submitted wrong undertakings regarding administrative approval for two projects when they were approved by HPC constituted by the government to decide on funding of languishing projects.
“It was pointed out that, at the time of HPC meetings convened to sanction projects, fake undertaking has been submitted w.r.t accord of administrative approval,” reads record note of the HPC meeting held on September 30.
During the meeting, it was decided to seek explanation from the departments over submitting misleading undertakings.
“Accordingly, it was decided to ask the concerned departments to justify why fake undertakings were submitted to the HPC and what action has been taken by the concerned department against the erring officials,” the record note further states.
The High-Powered Committee headed by administrative secretary, Finance department is empowered to select projects for funding by JKIDFC.
After imposition of Governor’s rule in Jammu & Kashmir in 2018, the state administrative council headed by Governer Satya Pal Malk approved the establishment of the Jammu and Kashmir Infrastructure Development Finance Corporation (JKIDFC).
The JKIDFC was authorized to raise a loan not exceeding Rs 8000 crores from various financial Institutions including state/ nationalized banks for completion of unfunded and languishing projects.
