Principal Secretary, Power Development Department (PDD), H Rajesh Prasad, today chaired the 83rd Board of Directors (BoDs) meeting of Jammu and Kashmir State Power Development Corporation Limited (JKSPDCL) at Civil Secretariat here.
The meeting was attended by Managing Director, JKSPDC, Raja Yaqoob Farooq; CPES, CE, HPM, Central Electricity Authority, Manoj Tripathi; Chief Engineer, Ministry of Power, GoI, Hemant Kumar Pandey; Director Finance, JKSPDC, Executive Director (Civil), Company Secretary and other representatives of Finance and Planning departments.
During the meeting the BoDs discussed several aspects related to the functioning of Corporation besides the financial progress was also deliberated in detail during the meeting.
Speaking during the meeting, the Principal Secretary, who is also the Chairman of Board directed the management of corporation that upto date annual accounts of the Corporation should be finalized, approved and adopted at the earliest.
During the meeting, the Board of Directors accorded approval for works comprising Design, Engineering, Supply, Erection, Testing and Commissioning of 132 KV Double Circuit Transmission line for evacuation of power from 37.5 mw Parnai HEP to grid station, Draba, of Poonch district including construction of two 132 KV line bays at the receiving end.
The Board further accorded approval to Revenue Budget for the year 2023-24 and revised estimates for the year 2022-23. Similarly, the Board accorded approval to appointment of Internal Auditors for the Corporation for Financial Year 2020-21 to 2022-23.
The Board of Directors also confirmed the action taken for pre-payment of Rupee Term Loan of 37.5 MW Parnai HEP to the tune of Rs. 115.20 crore and thus, saved an amount of Rs. 13.24 crore annually.
The Board also accorded its approval to annual accounts of the Corporation for the years 2016-17 and 2017-18.