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Govt mulls restructuring of corporations

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Srinagar, Sep 27:  Advisor to Governor, K Skandan, Fridaychaired Board of Directors (BoD) meetings of J&K State Industrial Development Corporation Limited (SIDCO), J&K Minerals Limited, J&K Cements Limited and JK Handicrafts here.

The meetings were attended by Finance Commissioner Finance, AK Mehta, Principal Secretary Industries and Commerce, Naveen Kumar Choudhary, MD SIDCO, MD JKML, MD JKCL, MD JKHC, Director Industries Kashmir, Director Industries Jammu and other concerned.


The concerned officers informed the meetings about the status of the functioning of their respective Corporations.

During the meeting, the Advisor while discussing the Action Taken Reports and agendas directed the concerned to complete annual audit reports at the earliest, besides compilation of profit and loss data.

He also suggested restructuring of some Corporations for better utilization of human resources.

At SIDCO BoD meeting, the Advisor directed the MD to constitute a three member committee to review infrastructure requirements of Industrial Estates in J&K.

The meeting was informed that the Corporation has developed 13 Industrial Estates comprising a total land bank of 26352 kanals, where 2755 units have been established.

It was given out that during the financial year 2018-19, several projects have been completed at a project cost of Rs 14,311.76 lakh while the Corporation has earmarked/allotted 877 kanals of land.

In another BoD meeting of JKML, the Advisor was informed that the Corporation has taken safety as priority for Mines Managers/ concerned officers. On regular basis officials are deputed to attend the safety training programmes / workshops to keep them abreast with latest developments in safety procedures and practices, he was told.

It was said that the Corporation has taken-up the matter of training of Mine Managers with Director General Mines Safety Dhanbad(DGMS).

The BoD meeting was also informed the Production of Gypsum has increased from targeted production of 10,000 MTS to 20,000 MTS per month and has further increased to 27,000 MTS per month in the first quarter of 2019-20. With regard to extraction from Lime Stone Quarry (LSQ) Khrew Pulwama, it was given out that once production starts it is expected to generate additional revenue of Rs 70 lakh per month.

Similarly in 101st BoD meeting of JKCL, the Advisor was informed that an amount of Rs 18.88 crore has been approved against 300 TPD Clinker grinding cum Packing unit at Samba and Rs 4 crore for construction of office complex at Panderathen under languishing projects.

Later, the Advisor chaired 124th BoD meeting of J&K Handicrafts (Sales & Export) Corporation Limited (JKHC).

The meeting was told that the Corporation is in process to renovate and remodel its other branches which have been approved under Project ‘TAMIER’ for which administrative approval has been received for an amount of Rs 468.99 lakh. The full amount has been placed at the disposal of M/S SICOP being agency for the up-gradation, the meeting was told.