315 more languishing projects worth Rs 812 Crore approved

SRINAGAR: Several components of heritage Mubarak Mandi Restoration Project were among the more than 300 languishing and unfunded infrastructural projects of various departments involving an amount of 812 Crore rupees across the state cleared on Wednesday for funding through J&K Infrastructure Development Finance Corporation (JKIDFC), a newly constituted body which aims to provide a major fillip to the hampered developmental activities in Jammu and Kashmir.

The significant decisions came at the second meeting of the ‘High-Powered Committee’ (HPC) which has been convened to route such projects through JKIDFC which was constituted recently by the State Administrative Council—equivalent to cabinet in popular government, and was authorized to raise a loan up to Rs 8000 crore from various financial Institutions including State/ Nationalized Banks for completion of such forgotten projects.

On its Wednesday meeting, the HPC cleared 315 projects of PHE, Tourism, R&B, Health and Industries and Commerce Departments involving an amount of Rs 812 crores, Principal Secretary, Finance, Navin K Choudhary, who is also the Chairman of the Committee, informed.

Asserting that the approved projects would be funded for time-bound completion through JKIDFC Limited, Navin said the committee approved funding of 221 Water Supply Schemes across the State for an amount of Rs 459 crores which will be completed within a year’s time and will make a marked difference on the ground so far as drinking water supply is concerned.

“Remaining 150 schemes of PHE will be taken up in the subsequent meetings of the Committee when PHE department completes the required paper work,” he said.

The all-important restoration project of the heritage Mubarak Mandi complex also received a major boost when the Committee cleared funding of different component of the Project involving an amount of Rs 65.38 crores for completion.

31 projects of Industries and Commerce Department for completion at a cost of Rs 178.61 crores and 48 incomplete projects of Health and Medical Education Department across the State for an amount of Rs 90.53 crores were also approved.

Besides, nine additional languishing projects of R&B department, requiring an amount of Rs 19.60 crore for completion were also approved.

Pertinently, in its two meetings held so far, the High-Powered Committee has cleared 556 projects in various sectors across the State involving an amount of Rs 1382 crores. The previous meeting of HPC was held on 3 October 2018.

The Principal Secretary Finance said the meetings of the HPC would be held at regular intervals to ensure early processing and approval of all such projects which are languishing for want of funds. He said the 3rd meeting of the Committee is scheduled to be convened on 22 October 2018.

Principal Secretary, Planning, Development and Monitoring, Rohit Kansal; Principal Secretary, Industries and Commerce, Shailendra Kumar; Commissioner/Secretary, PWD, Khurshid Ahmed Shah; Secretary, PHE/I&FC and DMRRR, Farooq Ahmed Shah; Secretary Tourism Department, Rigzin Sampheal and other officers of the Finance Department and Chief Engineers of various departments attended the meeting.