J-K govt to sell non-productive assets of SRTC

Srinagar: Jammu and Kashmir government has decided to sell non-productive assets of the State Road Transport Corporation (SRTC) to liquidate liabilities on account of salaries and employees provident fund, official sources said on wednesday.

The decision to sell assets of the SRTC to liquidate the huge liability was taken at a meeting chaired by the state.

Transport Minister Hakeem Mohammad Yaseen today, the sources said. They said the meeting discussed the proper use ofnon-productive assets and decided to properly utilise the assets at Panama Chowk, Railway Head and Pathankote in JammuDivision and Sangam and Pahalgam in the Kashmir division in the first phase.

A joint committee of the officers of J-K bank and SRTC was formed to frame modalities for using the assets in a proper way. The committee has been asked to give its report with regard to fixation of the rates of assets within next 15 days, the sources said.

Yaseen addressing the meeting said the government is planning to make proper utilisation of all the assets of SRTC on a joint venture basis with various private agencies to bring it out of huge losses and ensure its sustained viability.