J&K State Forest Corporation losses stand at Rs 291-cr

  • 04/02/2004

  • Kashmir Times (Jammu)

Special category states with special problems sometimes offer special anecdotes. Take J&K that has vast forests. But its state-controlled Forest Corporation (SFC) has been making whopping losses even after axing forests and draining funds from public exchequer. CAG in its recent reports said the SFC has accumulated losses amounting to Rs 291 crore by March 2001. Its negative net worth has shot up to Rs 281 crore.