Srinagar Mar 22: Government on Wednesday ruled out of running the Jammu Kashmir Cements Limited on Public-Private Partnership (PPP) mode.
According to KNS correspondent, the Vice-Chairman, JK Cements Limited, while talking to reporters here at Srinagar Airport said the government is going to revive the JK Cements. “Government will run the JK Cements on its own not on the PPP mode. We have started taking measures for revival of JK Cements,” Yatoo told reporters here.
He said he has asked the departments to release Rs 20 crore pending amounts of JK Cements. “The departments have been told to release pending balances immediately that is necessary for running of JK Cements.”
The Vice-Chairman said the salaries of employees will be released very soon. “We will take the employees friendly measures and in future they will receive their salaries in time.”
Having been set up three-decades-ago of producing quality cements at the reasonable prices and generating revenue for the state, the JK Cements Limited (JKCL) is fighting for its survival. Over the years, its production has declined due to lack of proper management. Being a state owned company, it has a pivotal role to produce cement of well standard quality at the reasonable rates. Over the years, its production has gone down. It has also failed to pay salaries to their employees in the past who would often come to the streets seeking releasing of their remunerations.
However, Yatoo said there will be visible improvement in the functioning of JK Cements in the near future. “This is an asset of the government and measures are being taken for its revival. The production of JK Cements will also go up,” he added. (KNS)