LG releases Coffee Table Book of JKIDFC

Jammu: Lieutenant Governor, Girish Chandra Murmu Friday released the Coffee Table Book of Jammu & Kashmir Infrastructure Development Finance Corporation Ltd. (JKIDFC), a compilation of 500 completed projects of public importance funded by the Corporation during Financial year 2019-20, which were languishing earlier due to financial and other execution bottlenecks. While the first milestone of completing 200 Projects was achieved in February, the Corporation achieved another milestone of 500 projects before March 2020.
BVR Subrahmanyam, Chief Secretary; Arun Kumar Mehta, Financial Commissioner, Finance Department; Atal Dulloo, Financial Commissioner, Health and Medical Education Department; Shaleen Kabra, Principal Secretary to the Government, Home Department; Bipul Pathak, Principal Secretary to Lieutenant Governor; Dheeraj Gupta, Principal Secretary to the Government, Housing and Urban Development Department; Navin Kumar Choudhary, Principal Secretary to the Government, Animal and Sheep Husbandry Department; Dr. Pawan Kotwal, Principal Secretary to the Government, Revenue Department; Ajeet Kumar Sahu, Commissioner/Secretary to the Government, Jal Shakti Department, besides other Administrative Secretaries and senior officers participated, in person and through video conferencing.
The Lt Governor remarked that JKIDFC has been a vital driver in the Jammu & Kashmir’s Developmental Agenda and appreciated the Corporation for carving out assets for the public good out of languishing unfunded projects, in a short span of time by plugging the financial and operational lacunae in the overall project implementation structure in the Union Territory of Jammu & Kashmir.
The Lt Governor asked all the stakeholders of the Corporation to put in concerted efforts to create benchmarks in speedy execution of projects and ensure that the benefit of projects reaches the people without much delay. He also called for working towards enhancing transparency and accountability, besides addressing infrastructure bottlenecks of Jammu & Kashmir.
While briefing about the Jammu & Kashmir Infrastructure Development Finance Corporation Ltd. (JKIDFC), Arun Kumar Mehta, Financial Commissioner, Finance Department informed that a total of 2274 Projects stand approved by the High-powered Committee till end of Financial year 2019-20 for funding by JKIDFC at an estimated cost of Rs 5886 crore. Some of the mega languishing infrastructure development projects successfully completed in this FY 2019-20 are construction of 400 flats at Pampore (Rs 90.653 Crore), 300 TPD Clinker Grinder cum Packing Unit (Rs 26.97 Crore), Govt. Silk Factory, Bari-Brahmana (Rs 16.84 Crore), construction of Auditorium cum Conference Hall at Raj Bhavan (Rs 16.805 Crore), construction of Lab cum Office Block B, Shalimar SKUAST-K (Rs 11.00 Crore) etc.
JKIDFC was incorporated in 2018, with the main objective of raising loans from financial institutions for completion of unfunded/languishing Infrastructure Projects and any other new Infrastructure Projects which are the priority for Jammu & Kashmir, he added.