Take corrective measures to improve financial health of JKPCC: Advisor Sharma
SRINAGAR: Advisor to Governor K K Sharma on Thursday called for taking necessary corrective measures to improve the financial health of the J&K Projects Construction Corporation (JKPCC).
Chairing the 94th Board of Directors Meeting of JKPCC here, the advisor called for a special audit of the Corporation accounts by the finance department to pinpoint the lapses if any.
Financial Commissioner Finance Arun Kumar Mehta, Commissioner Secretary R&B Khurshid Ahmad Shah, Development Commissioner Works, Chief Engineers Jammu, Kashmir and other senior officers were present in the meeting.
The advisor said JKPCC being one of the premier project executing agencies of the State should ensure that it always maintains transparency at all levels and works should be allotted through proper bidding and e-tendering system.
He asked JKPCC authorities to strike a judicious balance between the income and expenditure and take necessary corrective measures for minimising the administrative expenses and increasing income. “Instead of only looking towards the state government for contracts, the Corporation must join various competitive biddings for expanding the ambit of its functioning,” he said.
He said the quality of works and timely completion of projects should be the benchmark of the Corporation. The delay in completion of works is putting an unnecessary financial burden on the exchequer of the Corporation and called for arresting this tendency, he remarked.
Advisor asked JKPCC authorities to procure the material including cement and steel through a proper tendering system to improve the financial health of the Corporation.
He directed the JKPCC Managing Director to ensure that payment to contractors is made as per approved project cost and availability of funds for a particular work. “All the projects undertaken by the Corporation should be cleared by contract committees, constituted at State and divisional levels, to weigh the financial viability of the project before entering into the contract,” he said.
The Managing Director P Raju was asked to get recruitment rules of the Corporation framed early to address the grievances of the employees. Earlier, the MD gave a detailed resume of the functioning of the Corporation.