Advisor Vyas for making PSUs vibrant, financially viable

Chairs BoD meetings of JK Cements LTD, JK Minerals

SRINAGAR, OCTOBER 05: Advisor to the Governor, BB Vyas Friday directed for making the public sector units of the state more vibrant and financially viable so that they can effectively contribute in the economy, besides creating the much-needed employment opportunities.

The Advisor was speaking at the twin Board of Directors meetings of JK Cements limited and JK Minerals limited.

Principal Secretary Industries and Commence, Shailendra Kumar, Managing Directors of JK Cements and JK Minerals, President Jammu and Kashmir Bank, Director Budget, members of the respective boards and other senior officers were present.

The Advisor while directing for undertaking measures for making the Corporations more vibrant and income generating units said the same is imperative for their sustenance as well. He said that bottlenecks if any in the smooth functioning of these should be eradicated by adopting new technological interventions and scientific methods.

BB Vyas stressed the need for achieving the revenue target for the current fiscal saying that this can be achieved only if the management and employees work with full dedication and resolve to bring back the JK cements back to its past glory.

BB Vyas stressed upon the management of JK cement to increase the production of cement. He said it will help to increase revenue generation of the corporation.

Advisor directed JKCL to venture out in the open market for selling its quality cement brands to private institutions and construction houses, so that the dependency on Government sales reduces.          

It was decided that the languishing projects of JKCL shall also be considered for release of adequate funding so that the projects are run optimally for its enhancement. The board agreed for non-captive use of limestone Quarry for which sanction shall be issued by the government.

The advisor while chairing the BoD of JK Minerals limited directed the officers to ensure available of the raw materials for various industries of the state in an ecofriendly and sustainable manner. He said that the corporation has a tremendous scope for giving economic flip to the areas where mining takes place.

While directing the officers to speed up the extraction of gypsum at Parlanka in district Ramban, the advisor said that the site has huge gypsum reserves and these should be extracted well before the site gets submerged due to construction of dam projects.

The Advisor directed the officers of JK Minerals to come up with a prospective and holistic plan to ensure the batter utilization of human resource besides ensuring diversification of activities and better marketing of the mineral produce in the state and at global level

Vyas said that the corporations should come up with proposals which should in clear terms specify how they are going to finance their future activities.

The Advisor exhorted upon the officers of both corporations to take innovative measures for making them more vibrant and profit oriented.

Principal Secretary, Industries and Commerce gave an overview of the activities being undertaken by the corporations, besides the targets achieved during the last fiscal.