Jammu, September 26: CAG pulls up JKPCC for poor performance, not finalising accounts, reportedly, the service tax of Rs 5.14 crore paid in excess had neither been reconciled nor refund thereof received.
The Jammu and Kashmir Projects Construction Corporation Limited came up for sharp criticism from the Comptroller and Auditor General for its poor performance and failure to finalise its accounts amid sharp decline in the value of works from Rs 364.19 crore in 2012-13 to Rs 250.65 crore during 2016-17.
JKPCC was incorporated with the objective of execution of construction works for the state and central governments and PSUs, carry on the business of builders, contractors, engineers, architects, surveyors, estimators and designers in J&K and curb monopoly of private contractors and provide healthy competition between private and public sectors but it had finalised its accounts up to 2010-11 only.
The report further said that the value of works done decreased from Rs 364.19 crore during 2012-13 to Rs 250.65 crore during 2016-17. It suffered loss of Rs 3.95 crore and Rs 11.69 crore during 2014-15 and 2015-16, respectively.
It said the shortfall in achievement of targets of value of works done remained between 29 and 50 per cent. Funds ranging between 58.52 per cent and 75.55 per cent only were utilised on works during 2012-17.
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