JKIDFC drops 187 projects of Leh, Kargil from funding under languishing scheme

Ladakh UT in need of Rs 756 cr immediate assistance

*Majority of pending works belong to R&B sector

Mohinder Verma
JAMMU, Jan 30: Jammu and Kashmir Infrastructure Development Finance Corporation (JKIDFC) has dropped 187 projects of Leh and Kargil from funding under languishing scheme of the erstwhile State and conveyed its decision to the administration of Union Territory of Ladakh, which has to now arrange Rs 756 crore for the completion of such a large number of pending works in order to provide benefits to the people.
The scheme to ensure completion of languishing projects was launched on September 5, 2018 when the State Administrative Council (SAC) headed by the then Governor of the erstwhile State of Jammu and Kashmir Satya Pal Malik had approved an amount of Rs 8000 crore for the completion of such projects.
For this purpose, the SAC even approved establishment of a new infrastructure company-Jammu and Kashmir Infrastructure Development Finance Corporation Limited to raise a loan not exceeding Rs 8000 crore from various financial institutions including State/ Nationalized Banks for completion of unfunded and languishing projects.
These developmental projects, which were at different stages of execution, were either inadequately funded or left incomplete due to one or the other reason. Some of them were languishing for over 5 years resulting not only in blocking of funds spent on them but also in cost escalation and time overrun.
In its 9th meeting held under the chairmanship of Financial Commissioner to Government, Finance Department Dr Arun Kumar Mehta few days back, the High Powered Committee of the Corporation while holding discussion on the projects received from the Ladakh Affairs Department from time to time found it appropriate to drop such works from the list of languishing projects in the light of the fact that Leh and Kargil districts are no more parts of Jammu and Kashmir.
“One hundred eighty seven (187) projects of Ladakh Affairs Department having estimated balance cost of Rs 756.87 crore are dropped under JKIDFC as the same belong to different Union Territory now”, read the minutes of meeting, the copy of which is available with EXCELSIOR.
Accordingly, decision in this regard has been communicated to the administration of Union Territory of Ladakh so as to facilitate it to arrange funds for completion of dropped projects.
“At present there is no scheme specifically meant for the completion of languishing projects in Leh and Kargil districts as such the administration of Union Territory of Ladakh will have to either make arrangements of funds from its own resources or seek special financial assistance from the Union Government so that these 187 projects of immense public importance are completed without wastage of more time”, sources informed.
They further said, “the administration of Ladakh Union Territory is required to make arrangement of funds as early as possible so that when the weather condition improves in Leh and Kargil work on these projects is resumed and completed in the shortest possible time-frame in order to provide benefit to the people”.
Majority among these 187 projects pertains to roads and building and flood control sectors as such their fate cannot be allowed to hang in balance for unspecified period as in that eventuality the already made expenditure would turn unfruitful, they further said while disclosing that large number of education sector projects too fall in the list of works dropped by the JKIDCL.
The R&B sector projects, which have been dropped by JKIDFCL include several link roads, motorable bridges over various nullahs and improvement/upgradation of important roads etc while as education sector projects pertain to Kasturba Gandhi Balika Vidyalayas in Drass, Kargil and Zanskar and construction of classrooms and libraries in large number of schools in both the districts.
As far as flood control sector is concerned, the dropped projects pertain to strengthening of embankments of various nallahs and their diversions from the inhabited areas so as to avoid threat of floods in future.
Even a number of irrigation canals construction and extension works fall in the list of the dropped projects. Water supply schemes and sports sector projects are also in the list of the projects which don’t fall in the domain of JKIFDCL following bifurcation of erstwhile State, sources informed.


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