Non-presence of Admn Secys leads to deferment of meeting
JKIDFC yet to get loan for making payments to projects
Mohinder Verma
JAMMU, Oct 14: Shocking it may sound but it is a fact that fake undertakings about projects were furnished by two key Government departments to the High Powered Committee (HPC) constituted for sanctioning of languishing projects for funding by the Jammu and Kashmir Infrastructure Development Finance Corporation Limited. However, no action has been taken against the erring officials by the concerned departments for the reasons best known to them.
Moreover, the Jammu and Kashmir Infrastructure Development Finance Corporation has yet not obtained loan from the financial institutions for making payments to the projects of different sectors and to clear the bills of the already executed works.
Official sources told EXCELSIOR that the projects whose fate is hanging in balance during the past many years even after huge expenditure are considered and cleared by a High Powered Committee for funding by the Jammu and Kashmir Infrastructure Development Finance Corporation with the objective of providing benefits to the people without further loss of time.
Moreover, there are a number of projects which have been taken up without accord of Administrative Approval and are held up due to some legacy issues. In order to resolve all such cases strictly as per the book of financial powers, the Government vide Order No.36-FD of 2019 dated May 30, 2019 constituted a committee headed by Financial Commissioner, Finance Department and comprising of Principal Secretary to Government, Housing and Urban Development Department, Principal Secretary, Planning, Development and Monitoring Department and Commissioner/Secretary to Government, School Education Department.
It was specifically mentioned in the order that the concerned administrative departments will identify all such projects where Administrative Approval has not been accorded but are under execution and submit same to this committee for clearance/directions.
Recently, a meeting of this committee was scheduled to be held under the chairmanship of Additional Chief Secretary /Financial Commissioner Finance Department to accord Administrative Approval to construction of road from Rajouri to Baba Ghulam Shah Badshah University (BGSBU) and Industrial Growth Centre Samba Phase-III.
The Administrative Secretaries of the Roads and Buildings and Industries and Commerce Departments were requested well in time to attend the meeting. However, none of them was present at the scheduled time to attend the meeting, read the minutes of meeting issued by Director Finance (Resources), Finance Department Showkat Hussain Mir, the copy of which is available with EXCELSIOR.
In the meeting, it was pointed out that at the time of High Powered Committee meetings convened to sanction the projects fake undertakings were provided with regard to accord of Administrative Approval. Accordingly, it was decided to ask the concerned departments to justify why fake undertakings were provided to the HPC and what action has been taken by the concerned department against the erring officials.
The absence of Administrative Secretaries of R&D and Industries and Commerce Department led to deferment of the meeting till further orders. According to the sources, no action has been taken against the officials who were responsible for submission of fake undertakings to the High Powered Committee.
Meanwhile, the Jammu and Kashmir Infrastructure Development Finance Corporation (JKIDFC) has yet not obtained loan from the financial institutions for making payments to the projects and to clear the bills of already executed works under Languishing Scheme.
According to the sources, in the Board of Directors meeting of the Corporation held in the month of July this year, it was disclosed that 4th Expression of Interest was floated on December 4, 2020 in which two financial institutions—Housing and Urban Development Corporation (HUDCO) and State Bank of India participated. Accordingly, HUDCO was extended offer for providing loan of Rs 1000 crore. Later, HUDCO informed that they are in the process of finalization of loan to the provided to JKIDFC. Accordingly, the Board of Directors of JKIDFC directed the Corporation to approach J&K Bank for providing additional loan Rs 250 crore so that till Expression of Interest is finalized the payment to the languishing projects is made unhindered.
“Till date the Expression of Interest has not reached the logical conclusion as the Board of Directors of the financial institution whose offer was found lowest has yet not given clearance to providing loan to JKIDFC”, sources said.
However, an officer of the Corporation said, “hopefully all the issues will be resolved within next 10 days and thereafter payments to the languishing projects would be smooth”.
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