JAMMU, MARCH 3: After facing little hiatus for last few months, the Jammu and Kashmir Infrastructure Development Finance Corporation (JKIDFC) Limited has entered into an agreement for raising loan of Rs 1000 crore with the Indian Overseas Bank for funding of the Languishing Projects which are under execution at various levels of completion.
Details about the specific terms and conditions for the agreement and the interest rate for the loan were not immediately available to Ziraat Times.
The Additional Chief Secretary, Finance and CMD JKIDFC in his message said that the implementing departments/PIAs, which are already on the job for completion of these languishing projects shall now speed up the pace of work on all these projects and ensure completion of all these projects with regular monitoring.
“It is not This is a very important step which shall pave way for timely and smooth clearance of payments for completion of these projects in a transparent manner. This endeavour is believed to usher a new era of infrastructure development in the UT of J&K leaving almost no project to languish further for want of funds now”, an official J&K government statement said.
