JAMMU: The Minister for Finance, Education, Labour and Employment, Syed Mohammad Altaf Bukhari on Thursday set one month deadline for framing a workable revival and Business expansion plan for State Financial Corporation (SFC) here at the 237th Board of Directors (BoD) meeting of the corporation.
The minister asked the corporation to take on board directors, financial experts and other stakeholders while framing the plan. “The corporation has innate potential for growth. The only need is to go for a total revamping to make it compatible with the present day requirements and offer market competitive products,” the minister asserted.
Giving suggestions for revival road map, the minister set one month deadline for framing the plan. “You need to go for back to back review meetings to identify the areas where the corporation can stride up its business,” he said while assuring that the finance department would extend all means to help complete the exercise in time.
“The plan should be well thought and workable in all aspects so that it acts as a model to be followed by all other state corporations,” the minister maintained.
Principal Secretary Finance, Naveen K Choudhary while responding to the steps suggested for cutting down the administrative cost of the corporation, offered to absorb a good chunk of class IVth surplus staff of the corporation to fill such vacancies in different wings of the finance department.
Meanwhile, Syed Mohammad Altaf Bukhari was formally nominated as the chairman of the corporation in the capacity of Finance Minister of Jammu and Kashmir.