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SFC loses 52 Cr in last 2 years 6/9/2016 11:43:11 PM Asif Iqbal Naik Early Times Report Srinagar, June 9: In reply to C.Q No. 236 of MLC, the government of Jammu and Kashmir admitted that the state's fully owned State Forest Corporation has been incurring massive losses in the last two years in its Jammu operations and the cumulative losses have crossed Rs 52 crore in last two financial years. As per the written reply given by Under Secretary to Government Forest, Environment and Ecology Department, the losses are apparently being met from its earnings from Srinagar to keep the corporation afloat. The forest ministry said that SFC had a total revenue of Rs 42.68 crore in its kitty in 2014-15 in Jammu region against the overall expenditure to the tune of Rs 66.49 crore thus registering a deficit of Rs 23.81 crore. Similarly in 2015-16, against an overall revenue availability of Rs 46.84 crore, the corporation had an expenditure of Rs 75.05 crore with deficit of Rs 28.21 crore. The government reply stated that the corporation transferred funds from its Srinagar account to the extent of Rs 24.80 crore in 2014-15 and Rs 27.25 crore in 2015-16 to manage the deficit of the corporation. Explaining the situation, the government said that the restrictions imposed by the supreme court has reduced the timber extract from forests as it is limited to fallen, diseased and dry. RDD Minister, speaking on behalf of the Forest Minister said that the government will shift the excess staff in the SFC to the forest department so that their services could be utilized for other pressing issues like conservation of forests and fighting forest fires. He said that another option that is being considered for SFC revival is to get it into open market. "There are many business fir importing timber, why should not SFC also do it" said Haq Khan.   Share This News with Your Friends on Social Network     Comment on this Story

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