Funding shortages delay major projects under Srinagar Smart City Limited

Funding shortages delay major projects under Srinagar Smart City Limited

Srinagar, Dec 11, KNT: Several key projects under the Srinagar Smart City Limited (SSCL) initiative are facing significant delays due to a shortage of funds. The projects, primarily located in the old Srinagar city areas such as Zaina Kadal, MR Gunj, Nowhatta, and Nala Mar Road, are at a standstill, with contractors reluctant to continue work over unpaid liabilities.

One of the contractors told the news agency Kashmir News Trust that liabilities worth Rs 50 crore are pending. “Payments have not been made for months. Until these liabilities are cleared, it is challenging to move forward,” he said.

The delays are casting doubt on the completion of projects by the initial March 2025 deadline. These projects include critical infrastructure and heritage preservation efforts, such as work around the historic Jamia Masjid and other heritage sites in the downtown area.

Out of the Rs 1,000 crore allocated by the Central Government for SSCL projects, approximately 75% of the funds have been utilized. However, the remaining 25% of funds are yet to be released, leading to a financial crunch that has hindered progress.

“The shortage of funds is a major bottleneck. We are striving to address the issue and ensure the projects resume as soon as possible,” admitted an official from SSCL.

“These projects were meant to enhance our living standards and preserve our heritage, but the current situation is disappointing,” said a resident of Zaina Kadal. [KNT]

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