Committee on Public Undertakings reviews Audit Paras of Industries & Commerce department

Srinagar, Sep 16: The Committee on Public Undertakings of the Jammu and Kashmir Legislative Assembly Tuesday held a meeting at the Assembly Complex, Srinagar, to review audit paras pertaining to the Industries & Commerce Department.
The meeting was chaired by Committee Chairman Ali Mohammad Sagar and attended by members including Saifullah Mir, Bashir Ahmad Veeri, and Saif Ud Din Bhat.
Also present were Principal Accountant General KP Yadaw, Commissioner Secretary Industries & Commerce Vikramjit Singh, DG Expenditure Sajad Hussain, Director Handicrafts & Handloom Mussarat Islam, MD SIDCO/SICOP Pradeep Singh, MD JK Cement Vikram K Gupta, GM SICOP Waseem Bashir Dev, and Director Finance Reyaz Hussain.
The Committee held a detailed discussion on Audit Para 5.3 relating to JK Cements Limited and examined issues such as low capacity utilization of the cement grinding-cum-packing unit at Samba.
At the outset, the Chairman called for a comprehensive report on the alleged failure of JK Cements Limited to fully utilize the Samba unit and effectively market its cement to private parties and government departments, which had resulted in an operating loss of Rs.1.26 crore during 2017–18.
He Instructed that responsibility be fixed on officers for lapses in ensuring smooth operations of the unit and directed that detailed information be submitted regarding account maintenance, asset valuation, and plans for revival of the unit.
Emphasizing the need to tap Jammu & Kashmir’s industrial potential for revenue generation and job creation, the Chairman called for sustainable measures to strengthen industrial units across J&K.
The Committee also directed the concerned departments to submit status reports on operations and defunct units in J&K.
Underscoring the importance of transparency and accountability, the Chairman stressed the need for rigorous audits, updated status reports of all public undertakings, and timely submission of relevant documentation to enable informed decision-making and necessary reforms.