Srinagar: The Cable Car Corporation has clocked a revenue of Rs 72.31 crore in last two years,
Minister of State for Tourism, Priya Sethi informed the legislative assembly on Tuesday.
Replying to a question by Mohammad Abbas Wani, she said that the Memorandum and Articles of Association of J&K Cable Car Corporation does not provide for execution of developmental works under Corporate Social responsibility (CSR).
However, the Corporation has spent Rs 6.15 lakh for developmental works and relief to the fire victims of Gulmarg during 2010, she said and added that as per the Companies Act Re-casted in 2013, it has been enjoined that minimum 2 percent of the profit be kept reserved under CSR. She said that the Corporation will project the development work of adjoining areas of Gulmarg Gandola Project in future as per Companies Act.
