SRINAGAR: Minister for Industries and Commerce, Chander Parkash Ganga, Thursday chaired the 99th Board of Directors (BoD) meeting of Jammu & Kashmir Cements Limited (JKCL).
The minister called for comprehensive proposals for actions to be taken with regard to sustained profit-making and finalization of accounts. He also called for exploring ways to make the company’s units operational 24×7, a official press note read.
While stressing on forming a roadmap for growth of business, the board under the chairmanship of Ganga fixed the company target of Rs. 250 crore for the current fiscal. He also emphasized on the need to set up more production units for increasing the company’s business and directed for fixing a proper timeline for setting up a new units.
The minister also asked for identification of deadwood in the company, saying “there will be no compromise with non-performing employees”. He said, “The company must have at least an aggregate cement production of 900 tons per day and make proper calculations and proposals in this regard.”
The board called for a comprehensive business processing engineering to identify means for attainment of sustainable efficiency. It also called for strict adherence to pollution control mechanism and directed for installation of a pollution control system by the end of August this year, the press note added.
The board also authorized the company to go for private and retail selling of its cement production. It observed that the company must not be restricted to selling its cement to government departments only and directed it to open retail outlets in Srinagar and Jammu to begin with.
JKCL was also directed for outsourcing operations and marketing of its manufacturing plant at Samba keeping in mind increased profitability for the company, the note further added. Noting that loan servicing is taking a significant toll on the company’s revenue, the board directed for early repayment of liabilities. It also said that only such borrowing will be done which will be for working capital and shall benefit the company by enhancing its production. The meeting also called for apt proportionality in consumptions.
The board also directed the company to come up with a comprehensive business plan. It also called for sustained efforts for setting up another income generating unit.
The meeting also authorized setting up of fuel stations on its lands for further revenue generation to meet its expenses.
The meeting was also attended by Vice Chairman JKCL, Nazir Ahmad Yatoo, Commissioner Secretary, Industries and Commerce, Shailandra Kumar and MD JKCL, Atul Sharma.