Dr Drabu stresses to explore viable options to revive SFC

Jammu: Finance minister of J&K, Dr Haseeb A Drabu Sunday stressed opon the need to revive Jammu and Kashmir State Finance Corporation (SFC).

Dr Drabu was chairing the 235th meeting of Board of Directors of SFC as chairman of the board.

J&K Minister of Finance Dr Haseeb A Drabu chairing 235th SFC Board of Directors meeting

He during the meeting emphasized that to revive SFC there is need to take up activities in the field of insurance and other areas to improve its liquidity position.

He according to spokesman instructed the officials to explore the possibility of participation in the activities of Asset Reconstruction Company (ARC) and take steps to clearance its balance sheet by reducing NPAs.

He also laid emphasis that the Corporation should work on the possibility of entering into new ventures in the field of term deposits, insurance etc and ensure improvement in its liquidity position and invest in fresh landing with assured returns.

He said the Corporation should restructure its organizational setup to achieve these objectives.
Managing Director SFC Muhammad Farooq Thokar, Senior President J&K Bank S K Bhat, Additional Advocate General J&K High Court Moksha Kazmi, Chartered Accountant Vikram Garg, and other concerned attended the meeting.

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