Administrative, financial issues of JKFDCL reviewed

STATE TIMES NEWS

JAMMU: The first meeting of Board of Directors (BoDs) of Jammu and Kashmir Forest Development Corporation Limited (JKFDCL) was held on Saturday under the chairmanship of Commissioner Secretary, Forest, Ecology & Environment Department, Sarita Chauhan.
The meeting was attended by Principal Chief Conservator of Forests, Dr. Mohit Gera; Secretary Tribal Affairs, Rehana Batul; Managing Director, JKFDCL, Vasu Yadav; members of the Board besides representatives of Finance, Rural Development and Industries & Commerce departments also participated in the meeting.
The members of the Board deliberated on key administrative and financial issues involved in switchover of business from erstwhile J&K State Forest Corporation (JKSFC) to J&KFDCL besides roadmap for smooth transition to the newly created entity was held in detail during the meeting.
The Board approved the proposal to start e-auctions of timber on pilot basis. This is a significant step towards digitization of services which will benefit the consumers in general, and timber traders in particular.
The Board also discussed introduction of Pay and Accounts Office system in JKFDCL for streamlining the processes and digitization of accounting process to incorporate financial discipline in the JKFDCL.
This major reform will not only facilitate the consumers who procure goods and services from J&KFDCL but will also bring all the business units of the Corporation on a common platform for the purpose of accounting and book-keeping.
Managing Director JKFDCL on the occasion gave a brief presentation on the actions taken for transition of the JKSFC to JKFDCL and functions performed by the Company during the period of transition.
Pertinently, the JKFDCL was incorporated in December 2020 under the Companies Act 2013 and will take over the assets and liabilities of the erstwhile JKSFC.