JAMMU: The annual report of J&K Tourism Development Corporation (JKTDC) for the year 2004-05 was tabled after a gap of eight years in Legislative Assembly today putting a question mark on the claims of transparency, punctuality and seriousness made by the Government in its working. The Dispatch News Desk (DND) reports.
The report was tabled by Finance Minister Abdul Rahim Rather on behalf of Minister of Tourism Ghulam Ahmed Mir. The Panthers Party leader and MLA Harshdev Singh objected to presentation of report saying that the report is old and it has been tabled after a gap of eight years. The Government should table the latest report in the House, he added. However, the Speaker Mubarak Gul said that the House has taken the cognizance of the observations raised by the member that why the report was tabled so late. However the Member should appreciate that report has been tabled, he added.
The report has passed several structures against the Corporation and its functioning. It accused the Corporation of not maintaining the proper records to show full particulars including quantitative details regarding fixed assets and their present situation and has taken serious exception to the style of functioning of the management which has not conducted physical verification of assets during the year 2004-05. It said in the absence of the report on physical verification of stocks, stores and provisions the auditors are unable to comment upon reasonableness of the frequency and adequacy thereof in relation to the size and nature of the business of the Corporation.
As per the report the Corporation has moreover failed to produce the report on the valuation of stocks from the appropriate authority before the auditors for verification and hence the auditors were unable to comment whether the valuation of stocks is fair and proper and in accordance with the generally accepted principles and on the same basis as in the preceding year.
The Corporation has also failed to produce the register of loan before the auditors. Moreover it has made granted interest free loans or advance in the nature of loans to parties. However repayment of principal amount as stipulated and also the interest, wherever applicable were not regular. The Corporation also failed to explain what steps it has taken for the recovery of the same.
The report further said that in the absence of any explanation regarding delegation of power and procedure by the Corporation for effecting sales and purchases, the auditors were unable to comment on the adequacy or otherwise of the internal control procedure with regard to the size of the Corporation and the nature of its business regarding purchase of stores, raw material, plant, machinery, equipment and other assets as well as sale of goods.
As all the records of the head office of the Corporation and its allied units have gutted in fire the auditors could not ascertain whether the purchase of goods or material and their sale has been made on reasonable rates are not. It further said the Corporation was not regular in depositing the Provident Fund and other similar dues if any with the appropriate authorities and the EPF liabilities as on March 31, 2005 were Rs 19.05 lakh.
