The Biz Reporter
Srinagar, Dec 11: The ambitious Srinagar Smart City Limited (SSCL) initiative is facing mounting challenges as several key projects remain stalled due to unpaid liabilities. Contractors working on these projects, particularly in the old city areas such as Zaina Kadal, MR Gunj, Nowhatta, and Nala Mar Road, have halted work, citing pending payments amounting to Rs 50 crore.
A contractor associated with the projects said: “Payments have been pending for months. Without clearing these liabilities, it is impossible for us to continue work. The financial burden is simply unsustainable.”
The financial roadblocks are not just inconveniencing contractors but are also jeopardizing the project’s timeline. Originally set for completion by March 2025, the delays have cast serious doubts on meeting the deadline.
Among the stalled initiatives are critical infrastructure upgrades and heritage preservation efforts, including work around iconic landmarks such as Jamia Masjid and other historical sites in downtown Srinagar.
The SSCL initiative, backed by a Rs 1,000 crore allocation from the Central Government, has so far utilized approximately 75% of the funds. However, the release of the remaining 25% has been delayed, exacerbating the financial crunch.
An official from SSCL acknowledged the issue: “The pending liabilities are indeed a major bottleneck. We are in constant communication with the relevant authorities to expedite the release of funds so that work can resume without further delays.”
