Kashmir Indepth

J-K Forest Dept now a private corporation

Srinagar: The Lietunant Governor-led administration has accorded approval for creation of the company, Jammu and Kashmir Forest Development Corporation (JKFDC), converting the Jammu and Kashmir State Forest Corporation (JKSFC) into a private corporation.

It came after JKSFC ceased to exist on 31 March following the repeal of its constitutional act in Jammu and Kashmir Reorganization (Adaptation of State Laws) Act 2020.

Accorded by Additional Secretary to the government, Rohit Sharma, the order directed that the authorized share capital of JKFDC shall be 10,00,00,000 rupees, divided into a lakh rupees equity shares of a thousand rupees each. “All shares except two shall be held by the Lieutenant Governor [of J-K],” the order stated. Among the rest of the two shares, one each shall be held by the Administrative Secretary of Department of Forest, Ecology, and Environment and Administrative Secretary of the Finance Department.

There will be seven board of directors of the JKFDC, including chairman of the Administrative Secretary of Department of Forest, Ecology and Environment and managing director of JKFDC.

The order, number 669-JK (GAD) 2020, further added that the permanent staff of the J-K State Forest Corporation also reserves all the jobs currently held by the JKSFC shall continue with the JKFDC under the existing terms and conditions of the service.

Related posts

2 J&K cadre IAS officers appointed as secretaries in Centre

Kashmir Indepth

Govt keen to provide livelihood opportunities to unemployed youth: Div Com

Kashmir Indepth

Training cum awareness on EVM, VVPAT concludes at Ganderbal

Kashmir Indepth

J&K Reports 16 Rape, 64 Molestation Cases, 65 Distress Calls During Lockdown

Kashmir Indepth

2 day visit of Union WCD Minister to Budgam concludes; inaugurates Sports stadium at Magam

Ankit Sharma

CASO launched in Pulwama village in south Kashmir

Kashmir Indepth

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy