LG, CS to directly monitor progress of JKIDFC funded projects

Jammu: Financial Commissioner, Finance, Dr Arun Kumar Mehta Thursday chaired the 7th Board of Directors (BoD) meeting of J&K Infrastructure Development Finance Corporation (JKIDFC) during which the new enhanced features of its web portal were highlighted, which will improve transparency, accountability and monitoring of the infrastructure projects being funded by this corporation.

The Board of Directors who attended the meeting included Commissioner Secretary, School Education, Hirdesh Kumar, Commissioner Secretary, PHE Department, Ajeet Kumar Sahu, Secretary RDD, Sheetal Nanda, Director General Budget, Mohammad Yaqoob Itoo. The Executive Director JKIDFC, Shamim Ahmad Wani, General Manager JKIDFC, Shafaat Yehya, Director Finance, Showkat Hussain Mir, several other officers and representatives from the J&K Bank also attended the meeting.

The Board was informed that in order to weed out any chances of wrongdoing, the company has incorporated the enhanced features like geo-tagging, project completion certificate, inauguration image uploading facility of finished projects on its web portal. A dashboard has also been created for monitoring of progress by Lieutenant Governor, Chief Secretary, Administrative Secretaries and Deputy Commissioners. The company is further creating log-in facility for Additional DCs of each district for verification of each completed project.

The meeting approved a letter of credit (LC) worth Rs 100 crores to be released by JK Bank in favour of Health & Medical Education department for procurement of vital equipments. The Board further approved the appointment of an Independent Director from any renowned Institution and a woman director in the corporation for which a panel of 10 professionals has to be furnished to the competent authority.

The Board also approved empanelling of a consultant for undertaking evaluation work of the projects being implemented by the corporation. It also approved the appointment of a chartered accountant for a period of one year for the corporation. The Board approved the creation of few important positions to be filled up on deputation basis.

The Board was informed that among the total of 2273 projects worth Rs 5963.81 crores, 200 projects already stand completed and 963 projects worth Rs 2246.53 crore would get completed during the FY 2020-21. The meeting was informed that in the month of December last year, 303 payments have been made against 290 projects releasing an amount of Rs 135.94 crores.

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