Srinagar, May 25: J&K Cements Employees Association that threw a welcome party for the newly appointed Vice Chairman Nazir Ahmed Itoo Thursday claimed that the company has gone to death bed with whooping liabilities of Rs 120 crores. The Association informed the Vice Chairman that the company which was a feather in the crown of state PUS’s till 2011 got invaded and looted by some non-technical Managing Directors and states visionless officers.
“Though the Industry suffered heavily during 6 months long strike in 2016, yet with hard efforts the company was on back on track and managed to reduce its liabilities from Rs 120 crore to 90 crore. Our production is now reaching above 800 Mts, but it is only the ailing pollution control system which is a great threat to company,” the Association said.
The Association according to CNS hoped that in case of normalcy a turnover of Rs 150 crore is expected.
Pic by, Shah Jahangir/FK
On this occasion newly appointed VC J&K Cements assured marketing demand from the Government Departments will hopefully be enhanced and payments will be released without resorting to any dilly dally tactics. (CNS)