SRINAGAR: The Jammu and Kashmir Government on Thursday informed the Legislative Assembly that liabilities amounting to Rs 2,504.46 crore from the erstwhile state of Jammu and Kashmir are to be transferred to the Union Territory of Ladakh.
In a written reply to a question, MLA Lolab Qaiser Jamsheed Lone, Minister In-charge of Finance, Omar Abdullah, disclosed that financial liabilities of Rs 2,504.46 crore would be transferred to Ladakh.
“As regards the apportionment of public debt, the distribution of assets and liabilities is to be carried out as per notification SO-329 of GAD, dated 30/10/2020,” he said.
He added that most of the recommendations regarding the apportionment of assets and liabilities between JK and Ladakh have been implemented.
The Minister also informed the House that the matter has been taken up with the Ladakh Union Territory administration and the Ministry of Home Affairs.
Following the reorganisation of Jammu & Kashmir, the Ministry of Home Affairs had set up an advisory committee to oversee the distribution of assets and liabilities between J&K and Ladakh.
The advisory committee, headed by former Defence Secretary Sanjay Mitra, includes retired IAS officer Arun Goyal and retired Indian Civil Accounts Service (ICAS) officer Giriraj Prasad. (KNO)
