SRINAGAR: Jammu and Kashmir Minerals Limited is expected to double its revenue generation during the current fiscal, setting a target of 20.95 cores, that during 2013-14 was Rs.10.80 crores.
This was informed during 165 Board meeting, chaired by the Minister of State for Industries & Commerce Sajjad Ahmad Kichloo on Monday.
Minister was informed that a production of 20,179 MT coal, 38,494 MT, gypsum and 2,212 gms sapphire was recorded during the year 2013-14 which realized revenue to the tune Rs 10.80 crores.
The Minister was further informed that 17000 MT of gypsum was extracted from the Mine at Assar in Doda during 2013-14, generating revenue of Rs. 1.31 crore. He was told that the Corporation envisages producing 20000 MT of gypsum during current financial year which is expected to generate revenue of Rs. 1.62 crore for the Corporation.
Regarding the Gypsum Mine at Parlanka in Ramban, the Minister directed to expedite extraction of gypsum through out-sourcing at the earliest to improve the revenue generation.
The Board reviewed the status of various Mineral Projects under implementation and reviewed the action taken report of previous Board decisions.
Mr. Kichloo also directed to expedite selection of joint venture partners for exploitation of sapphire mine at Paddar, the Project on which the Expression of Interest has already been invited, adding that the Paddar area of Kishtwar district possesses huge quantities of Sapphire that is famous world over.
The Board announced release of 20% Dearness Allowance in favour of Corporation employees which aggregates to a total of 50% and confirmed the increase of Project Allowance from Rs.125 to Rs.300 which was enhanced during last meeting with representatives of Mine workers Union.
Financial Commissioner, Industries & Commerce Khurshid Ahmad Ganai enjoined upon the Managing Director to ensure Geological and Environmental control in the Mine areas. He also directed for special audit for the records of the Corporation.
Earlier, Managing Director Jammu and Kashmir Minerals Limited, Abid Suhail gave a detailed resume of the activities of the Corporation.
Among others, Additional Secretary Industries and Commerce, Ali Afsar Khan and Director Geology and Mining, F. A. Khan were also present in the meeting