Cable Car Corporation generated revenue of 72 Cr in last 2 yrs: Govt


Minister of State for Tourism, Priya Sethi informed the House that the Cable Car Corporation has realized Rs 72.31 crore revenue in last two years.

Replying to a question by Mohammad Abbas Wani, the Minister said that the Memorandum and Articles of Association of J&K Cable Car Corporation do not provide for execution of developmental works under Corporate Social responsibility (CSR).

However, the Corporation has spent Rs 06.15 lakh for developmental works and relief to the fire victims of Gulmarg during 2010, she added and added that as per the Companies Act Re-casted in 2013, it has been enjoined that minimum 2 percent of the profit be kept reserved under CSR. She said that the Corporation will project the development work of adjoining areas of Gulmarg Gandola Project in future as per Companies Act.




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