Heading towards highest ever business turnover of Rs.1000 crore during current financial year, the Jammu and Kashmir Small Scale Industries Development Corporation Limited (SICOP) has registered a turnover of Rs.904.81 crore during last financial year, there by yielding an income of Rs.26.07 crore for the Corporation.
This was stated at the 84th meeting of Board of Directors of SICOP held under the Chairmanship of Minister of State for Industries and Commerce, who is also chairman of the Board, Sajjad Ahmad Kichloo here on Thursday, a statement said.
The Board reviewed physical and financial achievements of the Corporation for the last financial year and first quarter of the current financial year, besides, held threadbare discussion and made appropriate decisions to make the Corporation more vibrant, progressive and profitable.
The statement said that the Board also reviewed follow up action of previous board meeting. It also approved the enhancement of retirement age of its employees from 58 to 60 as per already issued Government decision.
The Board reviewed the status of various ongoing projects including Sanat Ghar, which is being constructed at a cost of Rs. 27.21 crore at Bemina, Srinagar.
The Sanat Ghar will accommodate offices of all Heads of Departments and Corporations under the Administrative Control of Industries and Commerce Department under one roof, the statement informed. The Board gave a time line of one month for its completion and directed M D SICOP to ensure work in double shift.
The meeting also reviewed the progress of up gradation of Industrial Estate at Gangyal, which has been completed at a cost of Rs. 9.83 Crore. The Minister directed for preparing of DPRs for II Phase of the project.
The Board was informed that Industrial Estate at Govindsar, Kathua is completely functional and land measuring 521 Kanal has been allotted to 81 prospective entrepreneurs. All basic infrastructure facilities like power, roads, water and drains are available in the estate.
The Board nominates SICOP as Nodal agency for procurement/distribution of Pashmina wool among traders /Pashmina weavers in Kashmir valley, it added.