Bills worth several crores of rupees lying pending with JKIDFC

Contractors fuming as deptts unable to specify reasons

Delay in finalization of issues for loan creating problem

Mohinder Verma
JAMMU, July 26: Bills worth several crores of rupees relating to developmental works completed under Languishing Scheme are lying pending with the Jammu and Kashmir Infrastructure Development Finance Corporation Limited thereby leading to strong resentment among the contractors, who are even not getting clear picture from the concerned departments about the time-frame for release of payments.
Official sources told EXCELSIOR that several developmental works, which were languishing during the past many years, were completed by the contractors after the same were approved for execution by the Jammu and Kashmir Infrastructure Development Finance Corporation.
“After completion of large number of works the contractors submitted all the details and thereafter the bills dully approved by the concerned department were forwarded to the Jammu and Kashmir Infrastructure Development Finance Corporation Limited through proper channel for release of payments”, they said.
However, during the past nearly two months the bills have not been cleared by the Corporation much to the disappointment of the contractors, who are running from pillar to post to ascertain the reasons behind delay in release of payments, sources said, adding “while field functionaries of the concerned departments are shifting the responsibility to the Administrative Departments the latter pass on the buck to the Jammu and Kashmir Infrastructure Development Finance Corporation”.
“We had submitted the bills and completed all the formalities more than two months back but till date we have not been conveyed by the concerned departments as to when the payments will be released”, some contractors told EXCELSIOR, adding “we had borrowed money to complete the developmental works but in the absence of timely payment we are suffering a lot”.
When contacted, concerned officers of different departments fanned ignorance about the reasons behind delay in release of payments worth crores of rupees by the Corporation and said, “we have not been conveyed anything by the Corporation as such we are not in a position to convey the time-frame to the contractors who are approaching us after regular intervals”.
However, sources informed that more than 300 bills of different departments for the completed languishing projects are presently pending for clearance with the Corporation and the number is likely to go up further if the issue is not resolved immediately.
“Actually, the Jammu and Kashmir Infrastructure Development Finance Corporation obtains loan from different financial institutions to fund the languishing projects and delay in finalization of terms and conditions with the financial institutions has created problem”, they further informed.
This is notwithstanding the fact that in a meeting of the Corporation held in the month of May this year, the concerned officers were directed to process all the related issues immediately so that the loan of Rs 2000 crore be finalized with the banks or other financial institutions for smooth funding of the languishing projects.
In the meeting, the payment section was also directed to process all the files received on the JKIMS portal immediately and without any delay so that the payments reach to the beneficiaries in a time bound manner.
“All the payment files have been processed by the concerned section but unless the loan related issues are sorted out with the banks and other financial institutions the bills cannot be cleared”, sources further said and hoped that Financial Commissioner Finance, Dr Arun Kumar Mehta, who is also Chief Secretary, would personally intervene and resolve the issue at the earliest so that pending bills are cleared without any further delay.
When contacted, Executive Director-cum-Director Finance of Jammu and Kashmir Infrastructure Development Finance Corporation Showkat Hussain Mir confirmed that there was some problem which led to delay in clearance of bills. He, however, said that hopefully the issue will be resolved at the earliest and Corporation would release the payments to the concerned departments for further release to the contractors within next some days.