Er. Nazir Yatoo chairs review meeting of JKCL

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By Fast Kashmir on 12/01/2018.

JKCL to be biggest Industry in Manufacturing Sector in near future

Srinagar, Jan 11: First of its kind Review Meeting was called by Er. Nazir Ah. Yatoo, Vice Chairman JKCL at its Head office, Sonwar Srinagar. The meeting was attended by senior officers of the corporation which included FA&CAO, DGM, Company Secretary and other Heads of Administration, Engineering, Sales, Environment, IT and RD&QA wings.
During the meeting, the Vice Chairman reviewed the performance of the company and took stock of the clinker and cement production achieved during the current financial year 2017-18 (nine months). The Management of JKCL informed the Vice Chairman that due to various measures initiated by the Organization during the current financial year (upto November 2017), the liabilities have reduced to the extent of Rs.82.81 Crore inspite of unrest in the Valley from the period July, 2016 to November, 2016 which affected smooth functioning /operation of the Plant at our Khrew Works. It was pledged that the production & sales targets fixed for the current financial year will be achieved by end of 31st March 2018 as assured by the Management of JKCL.
The Management revealed that the Production, Sales and Revenue figures for the current financial year 2017-18 upto ending December 2017 (nine months) are encouraging in comparison to the achievements made during the last three years i.e., 2014-15, 2015-16 and 2016-17 as given under:
S.No. Year Clinker
(MTs) Cement
(MTs) Cement
(MTs) Revenue
1 2014-15 95421.00 103382.00 103138.25 80,28,03,040.00
2 2015-16 102510.00 108607.00 109986.36 84,93,24,690.00
3 2016-17 77502.00 91019.00 92207.30 72,24,76,110.00
4 2017-18
(upto 31 Dec 2017) 93585.00 104525.00 104803.65 84,66,53,170.00

The Vice Chairman also took the details of monthly revenues achieved viz a viz expenditure incurred by the company and stressed upon the Management to utilize full efforts to improve the efficiency in every field, be it, clinker and cement production, generating more sales and in-turn enhanced revenue for the corporation.
Er. Nazir Ah. Yatoo, Vice Chairman was optimistic about JKCL becoming biggest Manufacturing Industry in the near future and reposed full trust among the workers and the Management of the Corporation.
He informed during the meeting that he has every hope on Mehbooba Ji, Hon’ble Chief Minister and Hon’ble Finance Minister Jenab Drabu Sahib shall come to the rescue of JKCL during current time of financial crises experienced by the company due to unrest in the Valley during 2016.
In order to overcome current financial crises that company is encountering for the last more than four years, JKCL requires Budgetry Suport on similar lines as is being considered for other PSUs’. The Budgetary Support will also help the company to reduce dependence on loans from financial institutions and thereby reduce the burden of Annual Interest. The same has been approved by Board of Directors in its 99th meeting held on 27.07.2017.
He pinned every hope on the leadership of the State Government and was optimistic that the migrant salary of Rs.36.00 crores paid to its migrant employees from its own resources shall be reimbursed back to JKCL for which all paper work has been completed and file forwarded to Finance Ministry J&K Government.
The meeting ended with the vote of thanks to and from the chair. (KNS)