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| Under PM’s Development Program, JKERA leaves whopping Rs 26 crore unspent | | Out of Rs 80 crore under Urban Sector Project, mere Rs 68 crores spent by executing agency | | Early Times Report
Jammu, Jan 3: The Jammu and Kashmir Economic Reconstruction Agency (JKERA) has left a whopping amount of Rs 26.93 crore unspent otherwise meant for taking up of the various developmental activities in the erstwhile state of Jammu and Kashmir.
As per the official documents in possession of the Early Times newspaper, the Asian Development Bank -ADB loan for the project called The Jammu and Kashmir Urban Sector Development Investment Programme (JKUSDIP) was approved in May 2007 for Rs 2,425 crore through a Multi-tranche Financing Facility (MFF) comprising loan of Rs 1,500 crore and counterpart share of Rs 925 crore.
The ADB loan was received by the Department of Economic Affairs (DEA), Ministry of Finance, Government of India (GoI) and passed on to the government of Jammu and Kashmir as Additional Central Assistance (ACA). The counterpart share for implementation of the program was also borne by the Government of India (GoI). Under the Prime Minister’s Development Program ( PMDP), the government of Jammu and Kashmir received in the month of October 2015 to November 2017 Rs 936.24 crore comprising ADB loan of Rs 622.28 crore and counterpart share of Rs 313.96 crore.
Documents reveal further that till March 2019, the Jammu and Kashmir Economic Reconstruction Agency (JKERA) received Rs 1,679.17 crore comprising ADB loan of Rs 1,006.17 crore.
This includes Rs 3.41 crore released by ADB directly-In accordance with the provisions contained in Chapter-7 of Loan Disbursement Handbook of ADB-to those contractors who had opted for payment of their claims in foreign currency and counterpart share of Rs 673 crore for completion of 44 sub-projects under the Prime Ministers Development Program. In addition, Jammu and Kashmir Economic Reconstruction Agency also received an amount of Rs 24 crore out of State plan funds for execution of those sub-projects of the Jammu and Kashmir Urban Sector Development Investment Programme (JKUSDIP) which were either state-funded or had not been approved by ADB for financing.
As against the total availability of Rs 1,354.56 crore during 2014-15 to 2018-19, an expenditure of Rs 1,341.15 crore was incurred by JKERA, leaving an unutilized balance of Rs 13.41 crore, as of 31 March 2019. As per the information made available by JKERA, an amount of Rs 80 crore were received by JKERA out of the State Plan during the period April 2019 to September 2020 for completion of ongoing sub-projects against which an expenditure of Rs 68.24 crore was incurred during the same period, leaving an unspent balance of Rs 26.93 crore. |
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