J-K State Forest Corp earned revenue of Rs 74.45 cr in FY’11

The board also decided to revise the rate schedule for labourers working in interior forests for lumbering,loading and un-loading logs,a spokesperson said.

The performance of the corporation was discussed threadbare,including matters pertaining to operations plans and Budget proposals for fiscal year 2011-12,timber extraction,allotment of contracts,delegation of powers to the Managing Director and payment of gratuity.

The corporation paid over Rs 8.11 crore in value-added tax (VAT) to the government during the previous financial year.

The minister highlighted the need to broadbase the resources of the corporation to evolve it into a highly profitable organisation.

He asked the management to expeditiously extract timber so that the targets for distribution are achieved in a timely manner.