Vyas for making PSUs vibrant, financially viable

Vyas for making PSUs vibrant, financially viable
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Chairs BoD meetings of JKCL, JKML

SRINAGAR: Advisor to the Governor, BB Vyas on Friday directed for making the public sector units of the state more vibrant and financially viable so that they can effectively contribute in the economy, besides creating the much-needed employment opportunities.
The advisor was speaking at the twin Board of Directors meetings of JK Cements Limited (JKCL) and JK Minerals Limited (JKML).
Principal Secretary Industries and Commence, Shailendra Kumar, Managing Directors of JK Cements and JK Minerals, President Jammu and Kashmir Bank, Director Budget, members of the respective boards and other senior officers were present.
The advisor while directing for undertaking measures for making the corporations more vibrant and income generating units said the same is imperative for their sustenance as well. He said that bottlenecks, if any, in the smooth functioning of these should be eradicated by adopting new technological interventions and scientific methods, an official handout read.
B B Vyas stressed the need for achieving the revenue target for the current fiscal saying “this can be achieved only if the management and employees work with full dedication and resolve to bring back the JK Cements back to its past glory”, it read.
He further stressed upon the management of JK Cements to increase the production of cement which he believed would “help to increase revenue generation of the corporation”.
The advisor directed JKCL to venture out in the open market for selling its quality cement brands to private institutions and construction houses, so that the dependency on government sales reduces.
It was decided that the languishing projects of JKCL shall also be considered for release of adequate funding so that the projects were run optimally for its enhancement. The board agreed for non-captive use of limestone quarry for which sanction shall be issued by the government, the handout further read.
The advisor while chairing the BoD meet of JK Minerals limIted directed the officers to ensure availablity of the raw materials for various industries of the state in an eco-friendly and sustainable manner. He said that the corporation had a tremendous scope for giving economic flip to the areas where mining takes place.
While directing the officers to speed up the extraction of gypsum at Parlanka in district Ramban, the advisor said that the site had huge gypsum reserves and these should be extracted well before the site gets submerged due to construction of dam projects.
He directed the officers of JK Minerals to come up with a prospective and holistic plan to ensure the batter utilisation of human resource besides ensuring diversification of activities and better marketing of the mineral produce in the state and at global level.
Vyas said that the corporations should come up with proposals which should in clear terms specify how they were going to finance their future activities.
The advisor exhorted upon the officers of both corporations to take innovative measures for making them more vibrant and profit-oriented, the handout added.