SMC Commissioner inspects Municipal Assets to strengthen Financial Sustainability

SRINAGAR, JANUARY 8: In a bid to reinforce financial sustainability and enhance the delivery of civic services, the Commissioner, Srinagar Municipal Corporation (SMC), Faz Lul Haseeb, on Thursday conducted an on-ground inspection of municipal assets, with a focus on strengthening the Corporation’s revenue framework.
The Commissioner was accompanied by the Joint Commissioner, Chief Revenue Officer, and other senior officials of SMC.
The inspection included municipal assets such as the Chinar Complex at Batmaloo and the Haba Khatoon Complex at Parimpora.
During the visit, the Commissioner assessed the structural condition, functional status, and existing utilisation of the assets as part of the ongoing municipal asset documentation and revenue optimisation exercise. He also reviewed the scope for their systematic, transparent, and regulation-compliant utilisation through well-defined monetisation strategies.
Emphasising that a robust financial base is vital for effective urban governance, the Commissioner observed that reliable municipal revenues are essential for sustaining sanitation services, upgrading infrastructure, and ensuring uninterrupted civic amenities. He directed the concerned officers to complete an updated and comprehensive inventory of municipal assets, identify assets with untapped potential, and initiate timely, lawful measures for revenue generation.
The Commissioner further underscored the importance of regular monitoring, planned maintenance of assets, protection of municipal assets from encroachment, and plugging revenue leakages.
Senior officers briefed him on the progress of the asset mapping and revenue enhancement drive, aimed at augmenting SMC’s fiscal capacity and strengthening citizen-centric municipal services across Srinagar.