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CAG pulls up JKPCC for poor performance, not finalising accounts

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The Jammu and Kashmir Projects Construction Corporation (JKPCC) Limited came up for sharp criticism from the Comptroller and Auditor General (CAG) 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.

The public sector undertaking (PSU) firm was dependent on the state government departments or agencies for works on nomination basis and had failed to secure any work on competitive tender basis, the CAG said in its report on revenue sector and PSU (social, general and economic sectors) on the government of J&K for the year ending March 31, 2017, which was tabled in Parliament this week.

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