Excelsior Correspondent
SRINAGAR, Aug 24: In order to earmark funds for the establishment of power and irrigation projects and buy back the already established power projects in the State, the Government has promulgated ordinance for creating a separate fund for the purpose by amending the J&K Water Resources (Regulation and Management) Act, 2010.
The ordinance, issued by the Law Department, has made amendments to the Section 185 of the J&K Water Resources Act-2010 for constitution of a fund for utilization of water usage charges under a proper account head.
The fund so raised, as per the amended clause, will be operated upon by the Finance Secretary exclusively for establishing hydel projects, power projects etc and buying back power projects already established in the State.
As per the amended Section 185, Finance Department will constitute a ‘fund’ under a proper account number in the Jammu and Kashmir Bank or allot an ‘Account Head’ in which amount realized as water usage charges under the Act from such users who are generating power from Hydroelectric projects in the State will be deposited.
The fund so created will be operated upon by the Administrative Secretary, Finance Department exclusively for purpose of being utilized for establishment of hydel projects, Hydroelectric Projects, Multipurpose Hydroelectric Projects and buying back Hydroelectric Power Projects already established in the State.
It may be recalled that the State is getting water usage charges to the tune of Rs. 1000 crore from different user agencies since the passing of the J&K Water Resources (Regulation and Management) Act in 2010.
With the promulgation of the ordinance, the process for utilization of water usage charges for these purposes would just begin.
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