Rs 1300 crore overdue to J

Srinagar, Sep 11 (UNI) The Centre was yet to release any amount from the special plan assistance or power reform grant to Jammu and Kashmir which has created severe cash problems, state Finance Minister Tariq Hamid Karra said today.

Addressing a news conference here after assuming the charge as Finance, Planning, Law and Parliamentary Affairs Minister, Mr Karra said about Rs 1300 crore was overdue with the central government.

''If this money is released immediately, it will take care of the most of the state's cash problems,'' he added.

Mr Karra said he would like to advance the next budget session by at least one month so that a plan of action was kept ready for the next year before March 31, 2007.

He said as the eleventh five-year plan was nearing completion, preparations would be made for the next five year plan in which the focus would be on power, health and connectivity sectors.

Mr Karra said a Monitoring and Information System would be introduced in the department to ensure proper follow-up of the financial matters, monitoring of resources and expenditure on weekly basis, putting in place a proper mechanism for institutional finance and finding ways and means for additional resources mobilisation.

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