State government notifies financial powers of CEO of Ludhiana Smart City Limited

Ludhiana, July 23, 2016: The state government has notified the financial powers of the chief executive officer (CEO) of the Ludhiana Smart City Limited. The CEO will be authorized to spend funds coming under smart city mission for Ludhiana up to a permissible limit. The Chief Finance Officer and Chief Executive Officer would be the joint signatories but until the appointment of chief finance officer the CEO will be the sole signatories. However the projects powers will be delegated later on.

According to the notification expenses have been divided into five categories. In first category office expenses like furniture, office equipments and their maintenance, stationery, books and journals and other items relating to smooth working of office have been kept and CEO can spend up to Rs 10 lakh on these things. In case of electricity, water, telephone, internet connection expenses he has full authority. For the purchase of vehicles also he has limited powers worth Rs 10 lakh.

Under the second category CEO has been given full authority for expenditure on advertisement and printing of publicity material. In the third category CEO has financial powers worth Rs 10 lakh which he can spend on hiring of consultants, subject experts, legal services, special assignments and other professional services.

Similarly in the fourth category he has been delegated the financial powers worth Rs 50,000 for hiring managerial staff on contract or through agencies while for selection of non managerial staff he has full authority. In the fifth and last category CEO has full authority to provide compensation/wages in all forms to personnel/staff. For travel allowance to personnel and travel related expenditure he can spend up to Rs 5 lakh while for advance in connection with official tours the financial power is up to Rs 2 lakh.

While giving the information the MCL Commissioner and interim CEO of smart city mission Ghanshyam Thori told that Chairman of executive committee is Satish Chandra, Additional chief secretary so he has full powers in most cases while CEO has limited financial powers. He told that notification regarding financial powers was awaited so that they could fulfill the requirements for the project work.