The Jammu & Kashmir Government on Thursday informed the Legislative Assembly that liabilities amounting to Rs 2504.46 crore of the erstwhile state of Jammu & Kashmir have to be transferred to Ladakh Union Territory.
In a written reply to a question by MLA Lolab Qaiser Jamsheed Lone, Minister in-charge of Finance, Omar Abdullah disclosed the financial liabilities of Rs 2504. 46 crore are to be transferred to Ladakh.
“As regards apportionment of public debt, the apportionment of assets & liabilities is to be carried out as per the notification SO-329 of GAD dated 30/10/2020,” he said.
He said that most of the recommendations regarding apportionment of assets and liabilities between J&K & Ladakh have been implemented.
The Minister also informed the House that the matter has been taken up with Ladakh Union Territory and the Ministry of Home Affairs.
After the reorganization of Jammu & Kashmir, the Ministry of Home Affairs had set-up an advisory committee for distribution of assets and liabilities between J&K and Ladakh.
The advisory committee headed by former defence secretary Sanjay Mitra comprised retired IAS officer Arun Goyal and retired Indian Civil Accounts Service (ICAS) officer Giriraj Prasad.
