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Bills worth several crores left for clearance with JKIDFC

Last Updated on July 27, 2021 at 8:12 pm

Various developmental projects which were unsuccessful in completion since past many years were completed by contractors after approval from Jammu and Kashmir Infrastructure Development Finance Corporation ( JKIDFC) for its implementation.

But the bills worth several crores of rupees relating to developmental works completed are lying pending with the JKIDFC. Due to this several contractors are showing resentment since they are unaware that when the payments will be released.

As per reports, after the work completion all the details were submitted by the contractors and bills were approved by the concerned department and were given to JKIDFC via proper medium for releasing payments. But it’s been two months bills have not been cleared leading to resentment and disappointment among the contractors.

Concerned officers of different departments allegedly did not show any concern and ignored the reasons behind the delay in payments. There are more than 300 bills of different departments for the completed projects which are currently pending for clearance with the Corporation reportedly.

The main issue lies here that JKIDFC takes loan from different financial institutions to fund the languishing projects and delay in finalization of terms and conditions with the financial institutions has created issues.

Executive Director-cum-Director Finance of JKIDFC Showkat Hussain Mir said that though there was some problem which led to delay in clearance of bills but hopefully within few days the issue will be resolved and Corporation would release the payments to the concerned departments for further release to the contractors.