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| JKHC in shambles, Govt mute spectator! | | 9½ Kanals of land sold to pay salaries? | | Early Times Report
Jammu, Dec 1: At a time when authorities are supposed to declare some corporations as sick units and undertake a golden handshake with the employees of such semi Government organisations , the management of these corporations are selling their immovable properties to pay salaries to the employees, most of whom have no work at all.
The Managing Director (MD) J&K Handicrafts Sales & Exports Corporation (JKHC) who has been in the news for his notorious activities is on the warpath to bring disrepute not only to his corporation , but the officer is now selling assets of the corporation to pay salaries to employees.
As per reliable information available with Early Times MD JKHC Ishtiaq Hussain Drabu has played a pivotal role in selling 9 kanals and 10 marlas of prime land belonging to JKHC located in Namchabal area of Srinagar's old city. The location was the centre of art for many decades as several carpet weaving centres belonging to the Handicrafts corporation also known as Arts Emporium were running in this area until 1989. The land was purchased by the Government through Education Department for an amount of Rs 6.50 crores out of which Rs 2.50 Crores have been disbursed to the corporation recently and this whole amount instead of being utilized for creating new assets for the corporation was used to provide salaries to the employees. The land according to sources has been provided to Gandhi Memorial College which is located in the same area….
"At one hand MD JKHC told the press and Industries Minister that his corporation sales have touched Rs 24 crores , but he kept everybody in dark about the fact that corporation is selling its assets for paying salaries to its employees. A huge centre of excellence in handicrafts and allied skills could have been established on The 9 ½ kanals of land at Namchabal " said Farooq Ahmad a handicrafts businessman hailing from Nowshehra area of old city.
Pertinent to mention that during its recent Board meeting MD JKHC not only mislead the Industries Minister by giving him wrong financial figures even kept the whole board members in dark as the MD projected a typist as Financial Advisor (FA) of the corporation. Sources say that the Financial Advisor (FA) had not at all agreed to be present in the said meeting as he knew all the financial figures were misleading and incorrect. One more typist according to reliable sources was projected as Secretary of the corporation.
In order to save himself from embarrassment MD asked both the typists to attend the said meeting and a scene was created as if thee officials were representing the FA and Secretary JKHC. The Industries Minister happens to be the corporation's Chairman as well. Earlier MD JKHC had claimed that corporation sales crossed 14.24 crores during the financial year 2015-16 , but he kept the whole board in dark including its Chairman (Industries Minister) about the liabilities and expenses . The corporation's sales have definitely touched to the tune of Rs 14.24 Crores from sale of handicraft items sold at its several branches located in J&K and in at least 10 cities of country during last financial year, but when the expenditure in the corporation is calculated, it is clear that JKHC is running on losses and that can be understood from the fact that JKHC sold its prime property (91/2 kanals of land) at Namchabal few years back to Education Department. |
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