statesman news service
KOLKATA, 12 JUNE: The country’s oldest and first development agency ~ Kolkata Improvement Trust (KIT) ~ is going through an acute financial crunch for which it will let out five floors of its building on Lu Tsun Sarani.
Of the nine-storeyed building, four floors are occupied by KIT while the other five floors are occupied by state PWD.
The state Urban Development Minister Mr Firhad Hakim has asked the CEO to issue a notice asking PWD to vacate the space. KIT will let out around 35,000 square feet.
The state Finance Department did not accept the proposal to hike the monthly rent of the flats while their maintenance cost is going up every year. The two markets, Uttarapan and Dakshinapan, need immediate repair which could not be carried out due to financial crisis. It was KIT that took up development of areas like  Kankurgachi, Phulbagan and Keyatala. It set up two artificial lakes in Ballygunge and Beliaghata.
The Left Front government first dissolved KIT’s board and stopped every financial assistance. KIT had to withdraw its deposits lying with several nationalised banks and financial institutions to clear salaries and wages of the employees. All recruitment has stopped.
Members of  Development Agencies Joint Action Committee welcomed the move of Mr Hakim. The agency still has experts and their knowledge should be utilised by the state government, said Mr PB Nag, secretary of the committee.