Like our Facebook Page

news details

SFC causes huge loss of revenue to Forest Department, did not pay outstanding of Rs 257 crore 10/21/2015 12:56:39 AM Arun Singh Early Times Report Jammu, Oct 20: It may sound bizarre but it is true that the State Forest Corporation which is the Public Sector Undertaking of Forest Department has not paid an outstanding of Rs 256.97 crore as royalty causing huge financial loss to the Forest Department. Sources told Early Times that in 13 Territorial Divisions of Forest Department including Anantnag, Budgam, Lidder, Sindh, Langate, Kehmil, Kamraj, Baramulla and Banhipora, Poonch, Rajouri and Nowshera, an amount of Rs 256.97 crore was outstanding against State Forest Corporation till 2014, despite extraction of timber by SFC during last five years, no amount was recovered by the former. "The main reason behind such nonchalant behavior of State Forest Corporation, was that the timber handed over by the Territorial Divisions of Forest Department to State Forest Corporation without any agreement specifying the terms and conditions for payment of royalty and management of its operations since the creation of SFC in 1978," they said. Moreover, in five other Territorial Divisions, the Rs 15.41 crore was realized from the sale of timber during 2009-14 and remitted by these Territorial Divisions to revenue head of the Department instead of transfer to the SFC. This had resulted not only into inflation of Forest revenue but also State revenue to that extent, sources alleged. Pertinently, the State Forest Corporation (SFC) is a State owned Public Sector Undertaking under the administrative control of the Forest Department. The Forest Department through its Territorial Divisions hands over marked volume of timber to State Forest Corporation for its extraction and sale, for which Royalty is paid by the SFC to the Forest Department and a part of extracted timber is supplied by SFC to various timber Sale Depots of Forest Department for catering to local demand. Thus, a proper arrangement of accounting for payment of royalty by the SFC to the Department and payment of sale proceeds of timber by TDs to SFC should be in place.   Share This News with Your Friends on Social Network     Comment on this Story

top stories of the day

'Additional charge' syndrome rules roost in J&K Khurshid Ganai gets 3-yr extension just before retirement R&B Minister blames DyCM, ex-SMC Commissioners for mess in Srinagar Influential inspectors stick to chairs Fake NGOs, bogus Facebook IDs spreading communal hatred Is JU VC on his way out? Blackening of Rashid's face On camera, he eats beef at Srinagar; on camera, he becomes vegetarian at Delhi Er Rashid no victim, he is a 'mischief monger' BSNL plays `pimp' for `friendship' Suspicious death cases to be probed by SHOs only: PHQ SI Altaf Ahmed's killing: Authorities yet to indentify moles in Police department Good governance? 10k illegal structures stand untouched across J&K Year on, flood victims await second installment announced by PM Time for bridging differences in JK has come, says CM Pak has no work except raise Kashmir issue Panic gripped GMCH after power failure left patients gasping for life

STOCK UPDATE

BSE Sensex NSE Nifty

CRICKET UPDATE