SEP 17:The Committee on Public Undertakings of the Jammu and Kashmir Legislative Assembly, under the chairmanship of Ali Mohammad Sagar, held a crucial review meeting today at the Assembly Complex in Srinagar. The session focused on audit observations concerning the Industries & Commerce Department, with special emphasis on the performance and financial health of public sector units.
A key point of discussion was the low capacity utilization at the JK Cements Samba unit, which resulted in significant financial losses amounting to ₹1.26 crore during the financial year 2017–18. The Committee expressed concern over the inefficiencies and sought a comprehensive report detailing the reasons behind the losses, identifying those responsible for the operational lapses, and outlining steps toward revival.
Chairman Ali Mohammad Sagar emphasized the importance of transparency, fiscal responsibility, and efficient governance in public sector undertakings. He underscored that timely submission of audit responses and corrective action plans are essential for strengthening industrial infrastructure in Jammu and Kashmir.
“The failure to utilize installed capacity not only affects revenue but also undermines public confidence in state-run enterprises,” said the Chairman. “It is vital to hold the concerned accountable and ensure remedial steps are taken promptly.”
The Committee also called for rigorous internal audits and enhanced oversight mechanisms to ensure such lapses are not repeated in the future. Members recommended that the Industries & Commerce Department devise a viable revival strategy for JK Cements, focused on improving production, cutting inefficiencies, and enhancing overall profitability.
The review is part of the Committee’s broader mandate to examine the functioning of public undertakings, ensure judicious use of public funds, and promote economic growth through stronger industrial performance.
