Project finance cell set up to implement major projects

Published: 07th November 2012 12:26 PM  |   Last Updated: 07th November 2012 12:26 PM   |  A+A-

Planning Board Vice-Chairman K M Chandrasekhar has said that a Project Finance Cell has been formed for the implementation of major projects being undertaken by the State Government.

The cell will monitor the projects and procedures for the implementation of projects. The cell will also monitor the 12th Five Year Plan.

The progress of the work will be monitored and this will be extended to all the districts and at the taluk-level. A system will be introduced to monitor the projects online in future.

Five per cent of the plan fund will be deducted if the departments fail to furnish the details of the expenditure online. This was informed to all the departments concerned, he said.

Those projects which have already been started and do not make any progress will be scrapped. Some of the projects do not have any progress due to the delay in solving the anomalies through discussions during the implementation period.

Plan space, details of the plan to be made available online, will be made compulsory for all the departments.

Chandrasekhar said that those projects with an estimated cost of more than Rs five crore would be included in the capital head. The draft projects of various departments for the 12th Plan have been approved by the Board.

The Board meeting has instructed the respective departments to finalise the priority for implementing the projects.

A system has been introduced at the Board for monitoring the expenditure and progress of the projects. The report submitted by former Chief Secretary P Prabhakaran for the development of Kasargod district will be studied in detail.

The meeting chaired by Chief Minister Oommen Chandy was attended by Rural Development Minister K C Joseph, Transport Minister Aryadan Mohammed, Industries Minister P K Kunhalikutty, Finance Principal Secretary V P Joy, Planning Board members C P John, G Vijayaraghavan, E Sreedharan and Project Finance Cell director Anuradha Balaram.


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