Taking a serious view of delays in execution of projects aided by the NCR Planning Board (NCRPB), the Urban Development Ministry has directed a review of loan for a multi-storey office complex in Delhi’s Karkardooma area.
The Ministry is concerned about the delay in execution of projects which were extended financial support by the NCRPB, a Ministry spokesperson said. Rajiv Gauba, Secretary, Urban Development, has conveyed it to the concerned States that any further sanction of loan support to such projects would be based on their progress.
Chairing a meeting of the Project Sanctioning and Monitoring Group in Delhi on Friday, Mr. Gauba directed a review of the loan sanctioned for the construction of a multi-storeyed office building at Karkardooma institutional area in East Delhi.
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He sought to know if the loan should be cancelled on account of lack of any progress since the sanction of the first instalment of ₹20 crore in 2013.
Reminder for Haryana
The Haryana government was also told that NCRPB support for various infrastructure projects would be considered only after the long-pending issues relating to Asian Development Bank-funded road projects sanctioned in the past were resolved, the spokesperson said.
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The Project Sanctioning and Monitoring Group of NCRPB informed the Haryana government that loan assistance of ₹168 crore, sanctioned for the ₹223 crore Manesar Water Supply Project, would be reviewed if the project work was not started at the earliest. The first instalment of ₹31.13 crore was released for this project in March 2016 and the Haryana State Industrial Infrastructure Development Corporation has not submitted any progress report so far, the spokesperson said.
Loan rejected
The Group also declined to consider a loan of ₹270 crore sought by the Haryana Metro Rail Transport Corporation for extension of the Metro Link from Mundka to Bahadurgarh, stating that it was not in conformity with the original financing plan, he said. The group on Friday approved financial assistance of ₹1,664 crore for various infrastructure projects costing a total of ₹2,377 crore. The NCR Planning Board has sanctioned over ₹4,500 crore of financial assistance for infrastructure development in NCR during the last two years, the spokesperson said.