The Shareholders of J&K SICOP met today at the 36th-38th Adjourned Annual General Meeting to discuss, approve and adopt the financial results of the Corporation for the FY 2010-11, 2011-12 and 2012-13.The meeting was chaired by Commissioner Secretary, Industries and Commerce Department, M.K. Dwivedi, who represented Lt. Governor JKUT at the meeting.After detailed discussion, the meeting approved and adopted the financial results of the Corporation for the said years. It also reviewed the status of statutory budget position of the Corporation and was satisfied that the accounts of the Corporation have been audited upto 2016-17 and for rest of the years, the process in underway. The Shareholder placed on records their appreciation for the management.Besides this, the Shareholders reviewed the working of the Corporation for the last five years. The Shareholder appreciated the efforts and working of the Corporation, especially during the COVID-19 pandemic. The Shareholders placed on records their appreciation for up-dation of the accounts of the Corporation.
The Shareholders also advised the management to continue its footprints in UT of Ladakh so that it can best utilize its man-power and infrastructure.The management was advised to take immediate steps to create necessary infra-structure in the industrial estates recently taken over by the Corporation so that the land becomes available to the prospective entrepreneurs which will help in creating employment opportunities. Commissioner/Secretary I&C Department also directed to up-grade the infra-structure of the district depots so that they could provide all possible raw materials to the industry at their door-steps.The MD SICOP was advised to get itself registered with GeM portal with local filter so that it could sell the products being produced by the local MSMEs in Jammu and Kashmir.Dwivedi stressed upon the management to explore the profitable activities with the concurrence of the Board of Directors to strengthen the financial position of the Corporation.The meeting among others was attended by Shamim Ahmad, Special Secretary to Government, Finance Department, Atul Sharma, MD SICOP and Zubair Masoodi on behalf of M/S SYSS & Associates, Statutory Auditors and K.A. Naqash, Dy. Financial Advisor & CAO SICOP.