Chief Secretary-headed committee to keep track of 7 NBCC projects
PANAJI
The State government has constituted a Finance Management Committee under the Chief Secretary to monitor the physical and financial progress of seven State projects that will be developed by the National Building Construction Corporation (NBCC) (India) Ltd.
The government has signed a Memorandum of Understanding (MoU) with NBCC India for seven projects at an estimated cost of Rs 1,700 crore. The seven projects include the redevelopment of Junta House in Panaji, Circuit House in Altinho, government quarters in St Inez, government garage in Panaji, and KTC bus stand in Vasco, as well as the construction of Prashasan Stambh (administrative building) at Chimbel. The foundation stone for all was laid by Home Minister Amit Shah last month.
Now, to oversee the progress of the projects, a Chief Secretary-headed panel of key government officials has been set up, which will also deal with work after NBCC completes the execution. The other members of the committee include the Secretaries of GAD, Urban Development & Transport, PCE PWD, Chief General Manager NBCC, and Joint Secretary Budget.
According to the notification, NBCC (India) will be responsible for maintaining the assets and services of the Built-up Area (BUA) retained by the government, including social infrastructure, as well as special repairs for a period of 20 (5+15) years. For special repairs, a lump sum provision will be made as determined by the Finance Management Committee.
The government has said that the entire proceeds from saleable BUA shall be deposited in an Escrow Account opened by it in a nationalised bank, with the Committee devising the format for operating the Escrow Account and instituting a proper mechanism for its operation and audit.
“NBCC (India) Ltd. shall open and maintain separate Books of Accounts for each project. NBCC (India) Ltd. shall submit quarterly returns of the physical and financial progress of the project to the government in the format prescribed by the Finance Management Committee,” it said.
As per the MoU, NBCC will be permitted to sell over 1.5 lakh sqm of built-up areas owned by the government. NBCC is set to develop hotels, apartments, and offices for sale. The total plot area of the seven projects is over 77,000 sqm, and the built-up area is over 2.1 lakh sqm.
