Srinagar, Sep 8: J&K’s administration has set-up a three-member committee to draw a roadmap for the establishment of Jammu and Kashmir Industrial Development Corporation along with the merging process completion of the State Industrial Development Corporation (SIDCO) and Small Scale Industrial Development Corporation (SICOP).
In an order issued today vide no. 877-JK (GAD) of 2021 the General Administration Department today constituted a high-level committee headed by Financial Commissioner (Additional Chief Secretary), Finance Department for proposing a roadmap for establishment of Jammu and Kashmir Industrial Development Corporation (JKIDC) as per provisions of J&K Development Act, 1970, along with merging/subsuming SIDCO and SICOP into it, as recommended by the in-house committee of the Industries and Commerce Department.
The I&C department had earlier constituted a three-member committee for devising a roadmap for implementation of the amendments incorporated by the Ministry of Home Affairs in the J-K Development Act-1970.
IDC’s powers and functions
Jammu & Kashmir Industrial Development Corporation (J&K IDC), is envisaged to takeover the industrial estates, including their land and asset development and management in the union territory of Jammu & Kashmir.
Moreover, IDC is also designed as the central agency for the acquisition of lands and other assets for industrial and other types of development in Jammu & Kashmir.
Documents accessed by Ziraat Times, and notified in the Union Territory of Jammu and Kashmir Reorganisation (Adaptation of State Laws) Fifth Order, 2020, provide detailed insights into the nature, powers and future functions of the corporation.
Here is a summary of the key roles and functions of the corporation compiled by Ziraat Times:
Establishment and Constitution of the Corporation
(1) For the purposes of securing and assisting in the rapid and orderly establishment, and organization of industries in industrial areas and industrial estates in the Union Territory of Jammu and Kashmir and for the purpose of establishing commercial centers in connection with the establishment and organization of such industries, there shall be established by the Government by notification in the Government Gazette, a Corporation by the name of the Jammu and Kashmir Industrial Development Corporation or any other corporation (s) as notified by Jammu and Kashmir Government.
(2) The Corporation shall be a body corporate with perpetual succession and a common seal, and may sue and be sued in its corporate name, and shall be competent to acquire, hold and dispose of property, both movable and immovable, and to contract, and do all things necessary, for the purposes of this Chapter.
Functions of Corporation
The functions of the Corporation shall be—
(i) generally to promote and assist in the rapid and orderly establishment, growth and development of Industries in the Union Territory of Jammu & Kashmir, and
(ii) in particular and without prejudice to the generality ofclause (i) to—(a) establish and manage industrial estates at place selected by the Government;
(b) develop industrial area selected by the Government for the purpose and make them available for undertakings to establish themselves;
(c) develop land on its own account of for the Government for the purpose of facilitating the location of industries and commercial centers thereon;
(d) assist financially by loans industries to move their factories into such estates or areas;
(e) undertake schemes for providing industrial units and commercial establishments with such structures and facilities as may be necessary for their orderly establishment, growth and development;
(f) promote, organize, sponsor or undertake schemes or works, either jointly with other corporate bodies or institutions, or with Government or local authorities, or on an agency basis, in furtherance of the purposes for which the Corporation is established and all matters connected therewith.
Powers of Corporation
The Corporation shall have power —
(a) to acquire and hold such property, both movable and immovable as the Corporation may deem necessary for the performance of any of its activities, and to lease, sell, exchange or otherwise transfer any property held by it on such conditions as may be deemed proper by the Corporation;
(b) to purchase by agreement or to take on lease or under any form of tenancy any land, to erect such buildings and to execute such other works as may be necessary for the purpose of carrying out its duties and functions;
(c) to provide or cause to be provided amenities and common facilities in industrial estates, commercial centers and industrial areas and construct and maintain or cause to be maintained works, buildings, amenities and common facilities thereof;
(d) to make available buildings on hire or sale to industrialists or persons intending to start industrial undertakings or commercial establishments or both the industrial undertakings and commercial establishments;
(e) to construct buildings for the housing of the employees of such industries or commercial establishments.;
(f) (i) to allot factory sheds or such buildings or parts of buildings, including residential tenements to suitable persons in the industrial estates established or the industrial areas developed by the Corporation;
(ii) to allot shops and other buildings to suitable persons incommercial centers established by the Corporation;
(iii) to modify or rescind such allotments, including the right and power to evict the allottees concerned on breach of any of the terms or conditions of their allotment;
(g) to constitute committees from amongst its Directors to perform any of its functions;
(h) to constitute advisory committees to advise the Corporation;
(i) to engage suitable consultants or persons having special knowledge or skill to assist the Corporation in the performance of its functions;
(j) to delegate any of its powers generally or specially to any of its committees or officers and to permit them to re-delegate specific powers to their subordinates;
(k) to enter into and perform all such contracts as it may considernecessary or expedient for carrying out any of its functions; and
(l) to do such other things and perform such acts as it may thinknecessary or expedient for the proper conduct of its business and thecarrying into effect the purposes of this Chapter.
(m) Notwithstanding anything contained in any other law in force, the powers under Jammu and Kashmir Town Planning Act, 1963, Jammu and Kashmir Municipal Act, 2000 and Jammu and Kashmir Municipal Corporation Act, 2000 shall be exercised by the Corporation wherever necessary.