The Hindu Business Line : Kanara Chamber for better management of KUIDFC

THE Kanara Chamber of Commerce and Industries (KCCI) has urged the Karnataka Urban Infrastructure and Development and Finance Corporation (KUIDFC) to come out with a fool-proof operation and management policy on the assets created under various projects of KUIDFC.

In a letter to the KUIDFC Managing Director, the former KCCI President, Mr T. Subbayya Shetty, has said that KUIDFC has invested nearly Rs 1,000 crore in various projects under different urban local bodies (ULBs) in the State.

The assets would be handed over to ULBs for operation and maintenance after their creation. While the guarantee period for the new works carried out under the project is one year, there is no guarantee for the renovated ones. It is a bit late to enter any operation and maintenance clause in the already tendered work, he said. In such a situation, the State Government should come out with a foolproof operation and management policy.

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