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| International Trade Centre nowhere, Rs 5 cr left unspent | | Sorry State of Affairs | | Early Times Report
Jammu, Oct 6: Due to the alleged non-serious and dilatory mode of functioning more than Rs five crore were kept un-utilised by the former regimes in the erstwhile Jammu and Kashmir State.
According to the details available with Early Times State Industrial Development Corporation Limited (SIDCO) which was meant for the setting up of the International Trade Centre in South Kashmir’s Pampore area just slept over the proposal. Documents in possession of this newspaper reveal that the failure to take timely action for setting up of International Trade Centre (ITC) at Pampore resulted in blocking of Rs 3.94 crore for around ten years. Besides, the expenditure of Rs 1.06 crore incurred on fencing of land and payment of registration fee was rendered unfruitful and J&K could not avail the benefits from envisaged facility for holding national/ international trade fairs, buyer/ seller meets, transaction of international business as well as the interface with the overseas markets.
Documents revealed that land measuring 371 kanals and 6.5 marlas was transferred in September 2004 in favour of Director Handicrafts by the State Government for establishment of ITC, the Special Purpose Vehicle40 (SPV) under Companies Act 1956 for managing its activities was constituted only in April 2012 and the Detailed Project Report (DPR) of the project was prepared in January 2014. Project works could not be taken up as the decision with regard to identification of executing agency between SICOP 41 and JKPCC 42 and finalisation of the DPRs was not taken (November 2018).
It was stated (September 2017) that revised DPR had been submitted to India Trade Promotion Office (ITPO) for technical vetting but the approval was awaited. An amount of Rs 1.01 crore out of Rs five crore was advanced (September 2012 to January 2016) to R&B Department for construction of fencing around the land and the balance Rs 3.99 crore retained in the current deposit account. However, in the absence of any approved DPR, the amount of Rs 1.01 crore spent (November 2018) on construction of fencing cannot be treated as utilised for the intended purpose. It was stated (May 2018) that the State Government had floated in October 2017 a Company, Jammu and Kashmir Trade Promotion Organisation (JKTPO) and an expenditure Rs 0.05 crore incurred for obtaining license under section 8 of the Companies Act 2013.
Further, the Government of India (GoI) Ministry of Commerce and Industries released in December 2008 the first installment of Rs five crore to the Jammu and Kashmir State Industrial Development Corporation Limited (SIDCO) as a grant under the Assistance to States for Developing Export Infrastructure and Allied Activities (ASIDE) for setting up of International Trade Centre (ITC) at Pampore. The project envisaged creation of State of art facility for holding national/ international trade fairs, buyer/ seller meets, transaction of international business and a place from where the exporters of the State could have an interface with the overseas markets. The total cost of the project and the contribution of GoI under ASIDE were Rs 40 crore and Rs 30 crore, respectively. The amount over and above the ASIDE contribution was to be provided by the State Government. The project was to be completed in a time bound manner and the State Government was to submit Utilization Certificate immediately after its utilisation, not later than 31 March 2010. Till date, meanwhile, the project continues to remain in limbo. |
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