The Board of Directors of Jammu & Kashmir Infrastructure Development Finance Corporation ( JKIDFC) on Monday took far-reaching decisions for maintaining financial discipline and austerity in the working of the corporation, here at its 3rd BoD meeting chaired by Principal Secretary Finance and Corporation’s Chairman, Navin Kumar Choudhary.
The Corporation went online as the Chairman, Navin Kumar Choudhary launched its website on the occasion.
In a significant decision, the Corporation has decided to completely ban the use of stationery items made of plastic like folders and resolved to go for minimum use of paper by relying on IT-enabled office working, informed the chairman. He said that the Corporation has tied up with the Women Development Corporation for the supply of jute folders and files as part of its Corporate Social Responsibility.
The meeting was attended by (Board Directors) Commissioner Secretary PDD Hridesh Kumar, Commissioner Secretary R&B Khurseed Ahmed, Secretary School Education Ajit Sahu, Secretary RDD Sheetal Nanda and Secretary PHE, Irrigation and Flood Control Farooq Ahmad Shah.
A major decision taken by the board was related to the vesting of financial powers of Rs 10 crore with the chairman for meeting exigency funds, the appointment of staff especially with IT ability to facilitate e- working and management, besides formation of a committee to frame service regulatory rules.
Saying that the Corporation will follow strict austerity practices, the Chairman, Navin Choudhary said that he suggested limiting administrative expenses to the minimum.
Meanwhile, the Board was informed that the Corporation has repeated the expression of interest (EoI) to get competitive bidding from banking and financial institutions for advancing loans to the Corporation.
The Board also took many other decisions regarding the working of the corporation, even as it appointed Ajit Sahu, Sheetal Nanda and Hridesh Kumar as new Directors of the Board.