In order to provide financing in shape of subsidized loans, educational loans and also to promote entrepreneurship in Schedule Tribes, SC and OBC population of Ladakh, Sindhu Infrastructure Development Corporation (SIDCO) would be taking over the functions and operations of J&K ST/SC/BC Development Corporation in Ladakh.
After reorganization of J&K these operations had to be taken over by an entity created by UT Administration and accordingly SIDCO has been created.
Social & Tribal Welfare Department would provide the Viability Gap Funding (VGF) to SIDCO to operationalize these financing schemes.
Besides, SIDCO would also take over the operations of J&KSRTC in Ladakh from 1st April 2023 in name and style of Ladakh Transport.
All the assets of J&K SRTC are in process of handing over to SIDCO.
Besides, SIDCO would also be provided a fleet of e-buses for operating on various tourist routes. It was decided that SIDCO would as far as possible move to greener technologies for its transport operations. For this purpose, UT Administration has taken the services of RITES who has submitted a detail Feasibility & Assessment Report on Mass Transit System and allied infrastructure including operation of e-Buses”.
Above decisions were taken at the 3rd meeting of the Board of Directors of SIDCO chaired by Advisor Ladakh Umang Narula who is also Chairman of this Corporation.
The meeting discussed various issues pertaining to creation of posts, SIDCO recruitment rules, delegation of administrative and financial powers to the officers on the board, amongst other matters.
Commissioner Secretary Ajeet Kumar Sahu who is MD of SIDCO Ladakh introduced the agenda items for the meeting, while Executive Director SIDCO Ladakh, Lakshya Singhal informed the meeting of the developments in the establishment of SIDCO through a detailed presentation.
For the convenience of passengers and providing them basic services SIDCO would be developing passenger facilitation centers across Ladakh and one each in Himachal and J&K. In this regard, Advisor Narula was apprised that SIDCO is preparing detailed projects for various identified locations with help of technical experts. Also, matter have been taken up with J&K and HP governments to allot land for such centers.
Discussions were also held on Ladakh’s aim to achieve carbon neutrality and the need for SIDCO to strategize their operations in sync with the aim of shifting to more carbon neutral technologies.
Anurag Goyal, Advisor for Ladakh at NITI Aayog, Principal Secretary Dr. Pawan Kotwal, Divisional Commissioner Saugat Biswas, Additional Secretary Finance Rajath Kumar and other concerned officials attended the meeting.
