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| SFC reviews PSUs | | | EARLY TIMES REPORT
SRINAGAR, Sept 25: Chairman, State Finance Commission, Dr. Mehmood-ur-Rehman reviewed the functioning of the Power Development Corporation at a high level officers meeting, here today which was attended by Swami Raj Sharma, Sonam Dawa members of the Commission and Prof. Nissar Ali, Secretary of the Commission and Managing Director, Power Development Corporation.
The meeting held threadbare discussions on the financial and power generation position of the Corporation.
It was given out that the Corporation has so far constructed 19 power projects with a total installed capacity of 502 MW including 175 MW Gas based Pampore Project.
The meeting was informed that Corporation has allotted ten power projects of 100 MW capacity each to private power companies in the state for construction of the project which involve an estimated cost of Rs. 700 crore.
The meeting was told that Rs. 5002 crore Baglihar-I with 450 MW power generation capacity is ready for commissioning while as the work on its 2nd phase with a cost of Rs. 3800 crore would start soon.
Later, the Commission also reviewed the functioning and financial position of the JKPCC in a separate meeting. It was stated that the Corporation has earned Rs. 63 lakh as profit during 2007-08. The Corporation has taken up 431 works costing Rs. 233.15 crore during 2007-08 which includes construction of bridges, roads, and building complex.
The Commission has also held a series of meetings with State Public Sector Undertakings/Corporations like JKI Limited, J&K Handicrafts, J&K SICOP, J&K Cements Limited, J&K SRTC, J&K Minerals Limited, J&K SIDCO, J&K Handloom Development Corporation, J&K Agro Industries Limited, J&K Police Housing Corporation, J&K State Financial Corporation, J&K State Forest Corporation, J&K HPMC, J&K Municipal Corporation Jammu/Srinagar, J&K Tourism Development Corporation, J&K Cable Car Corporation, J&K KVIB and J&K Women Development Corporation during last some days to assess their working, assets and liabilities and matters related to employment.
The State Finance Commission is looking into issues relating to equitable distribution of resources, employment backlog, micro economic stability, problems of acute debit and taping of various potential areas for maximizing internal resource mobilization. It is also looking into the issues of vertical and horizontal devolution of resources from the state to urban and rural local bodies.
The Commission held detailed discussions to assess thee status and functioning of these corporations. |
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