Navin Choudhary chairs meeting of JKIDFC

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Progress on 556 projects approved for financing reviewed

SRINAGAR: Principal Secretary of Finance, Navin K Choudhary, Monday chaired the second meeting of the Board of Directors of Jammu and Kashmir Infrastructure Development Finance Corporation Limited (JKIDFC) at his office chambers here.
Navin K Choudhary, who is also the CMD of JKIDFC, reviewed the progress on 556 languishing projects that have already been approved for financing by the Corporation. Besides, other internal issues were also discussed in the meeting.
Directors of JKIDFC, Shailendra Kumar Principal Secretary, Industries and Commerce, Khursheed Ahmed Shah Commissioner Secretary PWD and Farooq Ahmad Shah Secretary PHE, I&FC, Executive Director, Nazim Zia Khan, General Manager, JKIDFC, Shafaat Yehaya and other officers also attended the meeting.
The Finance Secretary asked the PWD to designate the Chief Engineer as head of the Project Implementing Agency. He said the agency will have a separate escrow account.
During the meeting, Navin was brief by officers about the activities of the Corporation. A committee was later constituted comprising of Executive Director, General Manager, Project Manager and Finance Head to work out a business plan and frame the policy for incurring expenditure with proper budgeting.
The Board cleared the appointment of Nimisha Abrol as Project Manager IT, JKIDFC and also gave a go-ahead for establishing a well-furnished and fully-equipped registered office of the Corporation. The Board also gave consent for hiring of personnel for running day-to-day affairs of the Corporation including a Consultant Finance who should be of the rank of retired DG, Accounts and Treasuries along with other staff.
The meeting also resolved to utilize the services of agencies for maintenance and upkeep of assets of the Corporation, housekeeping staff, etc. Consent of the Board of Directors was also given for confirming design of the logo for the Corporation, besides other issues.