‘JKIDFC sanctions 593 projects with balance sanctioned cost of Rs. 1313.24 Cr’
Jammu, February 21 | An effective communication network is essential not only to cater to the needs of travel and transport but also for socio-economic development of Jammu and Kashmir. In the case of J&K, the same is all the more important for the promotion of tourism as well and revival of tourism and restoration of damaged infrastructure.
Government is all set to complete 180 vital developmental projects this fiscal in the public works sector—taking the mission road to development much ahead across Jammu and Kashmir.
Department of Finance, under the Jammu and Kashmir Infrastructure Development Finance Corporation Limited (JKIDFC) – a newly created Government undertaking body, in a series of nine meetings sanctioned 593 projects with balance sanctioned cost of Rs. 1313.24 crore pertaining to roads and bridges.
The sanctioned 593 projects include 380 roads with balance cost of Rs 867.26 crore, 198 bridges with balance cost of Rs. 413.38 crore and 15 buildings with a balanced cost of Rs. 32.60 crore.
For the effective implementation of the programme; the projects under execution are being regularly monitored at the executive agency level and at the highest level as well.
The Department of PW(R&B) has targeted to complete 180 projects by end of March 2020. The Department till now has completed 111 projects which include 50 roads, 56 bridges and 5 buildings. Rs 221.74 crore have been incurred on these languishing projects to date.
Notably, the Jammu and Kashmir Government with its all-out efforts created a special fund to complete all the languishing projects, works of all the Departments—which were left halfway due to the scarcity of funds.
The Department of Finance, under the Jammu and Kashmir Infrastructure Development Finance Corporation Limited (JKIDFC), started sanctioning the languishing projects in the year 2018.
The Government—with the supplementation of Central resources, made concerted efforts in rebuilding of destroyed infrastructure in the shape of roads, bridges, school buildings and the social infrastructure. With this objective in view, special schemes have been launched—besides bolstering the ongoing schemes of the Public Works Department.
It may be recalled here that in order to bolster the economy and take Mission Development ahead, Jammu and Kashmir Government under the leadership of Lieutenant Governor, GC Murmu is taking every possible step to complete nearly two-thousand vital projects by March 2021.
The Finance Department has carved out a robust Monitoring Mechanism to monitor and access the on-going works in people can also report their grievances whenever any developmental activities are carried out across Jammu and Kashmir.