Jammu and Kashmir administration has set up an ambitious target to complete 1300 languishing projects by the end of this financial year, and has issued directives to the administrative secretaries to ramp up the pace of work.
J&K Infrastructure Development Finance Corporation (JKIDFC), which was incorporated to raise Rs 8000 crore for completing the languishing projects has set a target to complete 1300 languishing projects within this fiscal.
JKIDFC has been given the go-ahead to borrow the money from the open market for funding projects languishing from 5 to 25 years.
“JKIDFC is a registered corporation which is mandated to raise Rs 8000 from the market for funding languishing projects, the corporation has already raised Rs 3000 crore which has exhausted after the JKIDFC made payment for works initiated by it.
