SRINAGAR: The Committee on Public Undertakings of the Jammu and Kashmir Legislative Assembly met today at the Assembly Complex, Srinagar, to review audit paras related to the Industries & Commerce Department.
The meeting was chaired by Committee Chairman Ali Mohammad Sagar and attended by members Saifullah Mir, Bashir Ahmad Veeri, and Saif Ud Din Bhat. Senior officials present included 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 discussed Audit Para 5.3 concerning JK Cements Limited, focusing on issues such as underutilization of the cement grinding-cum-packing unit at Samba. The Chairman sought a detailed report on the company’s failure to fully utilize the unit and market cement effectively, which led to an operating loss of ₹1.26 crore in 2017–18.
He directed that accountability be fixed for lapses, with detailed inputs to be submitted on account maintenance, asset valuation, and revival plans. Stressing the importance of harnessing J&K’s industrial potential for revenue and employment generation, Sagar urged sustainable measures to strengthen industrial units across the Union Territory.
The Committee also asked concerned departments to submit status reports on the functioning of industrial units, including those lying defunct. Highlighting the need for transparency and accountability, the Chairman emphasized rigorous audits, updated status reports, and timely documentation to facilitate informed decision-making and reforms.
