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| Reconciliation, Return and Rehabilitation of KPs demand slew of measures for JKCL revival | | | Jehangir Rashid
Early Times Report
SRINAGAR, June 23: The Reconciliation, Return and Rehabilitation of Migrant Kashmiri Pandits have condemned the moves to undermine the assets of Jammu & Kashmir. The organization has said that there seems to be ‘sinister’ moves to push profit making ventures into loss making liabilities.
Satish Mahaldar, Chairman Reconciliation, Return & rehabilitations of Migrants has referred to the case of Jammu & Kashmir Cements Ltd. (JKCL) in this regard and said that Jammu & Kashmir government owned PSU, is today an example of how profit-earning ventures can be destroyed by nepotism, mismanagement and corruption.
“The JKCL, a profit making venture of the state government, is an example of abject mismanagement. For the past 16 months the employees have not been paid. The employees are even unable to pay the school fees of their children. Even the retirees have not been paid their dues since 2015,” said Mahaldar.
We urge the Jammu & Kashmir government to make JKCL operational and release pending salaries of the employees. No industrial policy has been yet framed for J&K. And whatever industrial infrastructure is existing even that is being destroyed. The question is what happened to the once profit making PSU? What went wrong with the PSU that it has lost its money and its employees are reduced to penury, he said.
“Kashmir has rich deposits of high quality lime stone which help in production of quality cement. The need is to revive the JKCL project and help not only the employees but also create an example of self –reliance. JKCL has huge assets which can be utilized for generating resources to save the plant. If the government is not capable of bailing the plant out, then its assets can be mortgaged to the banks & generate requisite funds,” said Mahaldar.
He said the PSU has a potential of earning bulk profits after adjustment of all expenditure because JKCL has immunity from government to sell cement to all the government departments. The RM cost of Khrew plant per MT is Rs 5,000 whereas the selling price of cement as on date is Rs 9,000/per MT.
“The RM cost of the Samba plant as of now is Rs 6,000/per MT. The selling price is Rs 9,000/per MT. Immediate removal of non-technical people from JKCL management & induction of technical people so as the plant becomes profitable,” said Mahaldar.
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