Govt directs PSUs to take all actions by Sept end

J&K Re-organization Act
Excelsior Correspondent
JAMMU, Sept 6: The State Government today directed all Public Sector Undertakings (PSUs), Corporations. Com-panies, Autonomous Bodies and Societies to immediately convene the meeting of their Board of Directors to ensure that all actions required towards transition in pursuance of Jammu and Kashmir Re-organization Act are completed by the end of this month.
“All the Public Sector Undertakings/Corporations/Companies/Autonomous Bodies/ Societies will prepare their due statements of accounts by the end of September 2019 while annual audits shall be completed up to March 31, 2019,” an official order issued by the Finance Department said.
It added that necessary changes as may be required in the bylaws/manuals/rules will be undertaken and should be got approved by the Board of Directors well in time.
“Sanctioned strength of employees must be frozen, supported by necessary documents regarding creation of posts etc,” the Finance Department order said.
The directions have been issued as Jammu and Kashmir State will formally split into two Union Territories of Jammu and Kashmir and Ladakh on October 31. The Central Government had on August 5 scrapped special Constitutional provisions of Jammu and Kashmir and bifurcated the State into two UTs.
The Finance Department has further reiterated its instructions to the Public Sector Undertakings, Autonomous Bodies and Societies to strictly follow the procedure of transparent bidding process for procurement of goods and services and in awarding contracts.
“The PSUs, Autonomous Bodies and Societies will follow fair and transparent method of recruitment and seek prior concurrence of the Finance Department for creating of any new posts or filling up of vacancies,” the Government order said.
It asked all Public Sector Undertakings, Corporations, Companies, Autonomous Bodies and Societies to furnish progress and compliance reports to the Finance Department duly endorsed by their respective Administrative Departments within three days positively.