Commissioner SMC reviews municipal asset mapping, monetisation

Srinagar, Jan 3: Reinforcing the Srinagar Municipal Corporation’s (SMC) commitment to financial sustainability and efficient urban governance, the Commissioner, SMC, Faz Lul Haseeb, Saturday conducted the inspections of municipal assets with a focused thrust on strengthening revenue generation as the backbone for delivering hassle-free civic services to the citizens of Srinagar.
The Commissioner carried out an extensive on-site inspection of municipal assets at Hazuri Bagh, accompanied by the Joint Commissioner, Suhail Ul Islam, Chief Revenue Officer, and other senior officers of the Corporation.
During the inspection, the Commissioner reviewed the status, condition, functionality, and utilisation of key municipal properties and facilities as part of the ongoing asset mapping and monetisation initiative. He assessed their potential for enhanced utilisation through structured, transparent, and policy-compliant monetisation models aimed at improving financial sustainability.
Highlighting the direct linkage between robust municipal revenues and quality civic service delivery, the Commissioner emphasised that sustainable revenue generation is essential for ensuring uninterrupted sanitation services, improved urban infrastructure, efficient public utilities, and timely delivery of civic amenities across the city. He stated that municipal assets are valuable public resources and must be managed professionally and responsibly in the larger public interest.
The Commissioner directed the concerned officers to prepare a comprehensive and updated inventory of all municipal assets, identify underutilised properties, and initiate time-bound measures for their effective monetisation strictly in accordance with prescribed rules and government policies. He further stressed the importance of innovative yet accountable asset utilisation strategies to enhance the Corporation’s financial resilience.
The Commissioner also underscored the need for regular monitoring, systematic maintenance, prevention of encroachments, and plugging of revenue leakages as integral components of effective asset management. He called for strengthened inter-departmental coordination to ensure that asset utilisation aligns with the broader objectives of planned urban development.
Senior officers briefed the Commissioner on ongoing initiatives and proposed measures being undertaken under the asset mapping and monetisation drive to improve revenue generation and ensure optimal utilisation of municipal assets, ultimately translating into improved civic services and enhanced citizen satisfaction.