SIDCO-SICOP review: Advisor Bhatnagar for maximizing efforts to revive non-functional Industrial Estates across J&K

31 August 2022

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SRINAGAR, AUG 30: Advisor to Lieutenant Governor, Rajeev Rai Bhatnagar today asked the management of Jammu & Kashmir State Industrial Development Corporation (SIDCO) and J&K Small Scale Industries Development Corporation Limited (SICOP) that a comprehensive action plan should be formulated for accelerated development of industrial infrastructure across Jammu and Kashmir.

The Advisor passed on these directions while chairing a meeting to assess the performance of SIDCO and SICOP at Civil Secretariat here.

The meeting was attended by Additional Chief Secretary, Industries and Commerce department, Vivek Bharadwaj; Secretary in Industries and Commerce department, Kusum Badyal; MD SIDCO/SICOP, Smita Sethi; senior officers of both corporations and other concerned officials both in person and through video conferencing.

During the meeting, detailed deliberations were held on operational and financial aspects of both these corporations so as to make them expeditiously create the ecosystem for accelerated development of the industrial sector While reviewing the performance of SIDCO, Advisor Bhatnagar impressed upon the management of corporation to employ innovative and effective ways and means for financial viability of the Corporation as it has tremendous scope for generating employment avenues for budding entrepreneurs. He remarked that the corporation has been established with an aim to establish, promote and develop small, medium and large industries here and therefore it should be our endeavour to adhere to this objective of Corporation as it will significantly contribute to economy of J&K.

The Advisor further asked the management of corporation to maximize their efforts for reviving the non-functional Industrial Estates across J&K as it will generate employment opportunities for youth here.
While reviewing the progress on major projects executed by SIDCO like NIFT campus at Budgam, Up-gradation of Industrial estate at I.G.C Lassipora (Phase-I) Pulwama, and Development of Industrial Infrastructure at Village Rakh Amb Tali, IGC Samba under Centrally sponsored schemes, among others, Advisor Bhatnagar impressed upon the officers to expedite the pace of work on these projects and complete them within the specific timelines.

Regarding the establishment of new Industrial units, Advisor Bhatnagar impressed upon the management of corporation that the allotment the land should be done in convergence with the revenue department to avoid any kind of hindrance in allotment of required land to aspiring unit holders.

During the meeting, the Advisor also assessed the financial position of the corporation and delved upon the officers to maintain financial discipline while carrying out different projects.
Meanwhile, Advisor Bhatnagar also reviewed the performance of SICOP.

During the meeting, the Advisor impressed upon the MD SICOP to recover the outstanding balance pending with different departments for utilising the service of corporation. He asked the management of corporation to conduct regular deliberations with these departments for timely recovery of this outstanding balance.

Speaking during the meeting, Vivek Bharadwaj enjoined upon the management of both the corporations to complete the process of auditing of accounts for their timely submission with CAG. He also asked the management of SIDCO to ensure that all the statutory requirements are followed and adhered by the unit holders as well as Industrial Estates while carrying their routine businesses.
During the meeting, MD, SIDCO/SICOP gave a detailed presentation on the achievements of both the corporations.