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J&K ropes in JKIDFC for Rs 1010 cr loan to fund development projects

ZT News Network

JAMMU: In its 12th High Powered Committee (HPC) meeting chaired today by Financial Commissioner, Finance, Dr. Arun Kumar Mehta, the J&K Infrastructure Development Finance Corporation (JKIDFC), consented to provide loan for 83 road projects requiring some Rs 1010.55 crore for completion.

Approved projects include Roads, bridges, infrastructure related to health, education and rural development.

The meeting was also attended by Principal Secretary, PWD, Shailendra Kumar; Secretary, Youth Services & Sports, Sarmad Hafeez; Executive Director, JKIDFC, Shamim Ahmad Wani; Director General Budget, Mohammad Yaqoob Itoo; Secretary Sports Council, Nasim Javed Choudhary; Director Finance, JKIDFC, Shoukat Hussain, General Manager, JKIDFC, Shafaat Yehya and many other officers of the concerned departments.

Mehta, who is also the CMD of the company, asked the concerned departments to meet all the requirements before bringing the projects for financing underJKIDFC. He directed them to have Administrative Approval, Technical Sanction, DPRs, Geo Tagging and other formalities already done by the submitting departments.

Dr. Mehta directed the officers to look into the underlying reasons for requests for dropping some projects from JKIDFC domain. He asked for making the preparations for re-submitting them in future HPCs. He urged them that all these projects are of public importance so it is important to see why delay has been made in taking up of these projects.

It was given up in the meeting that all the departments were asked to send all the public utility projects pending for want of finance. It was further revealed that these projects are made payment in several steps at completion of definite proportions of work.

The meeting was further informed that few of the projects that were wanting in certain parameters had been dropped. It was also said that these projects have to be submitted along with requisite formalities to get funded under JKIDFC.

The meeting further deliberated on big ticket projects like 2000mtr span bridge at Pragwal Jammu (Rs206.90 cr), 445 mtr span bridge over river Ujh at Kathua (Rs45.54 cr), Upgradation of Kotranka Khawas road at Rajouri (Rs 76.20 cr), Upgradation of Udhampur-Ghordi road (Rs 40.00 cr) besides other roads and bridges of great importance in terms of last mile connectivity.

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