A small committee shall be constituted consisting of the executive authority and technical experts for implementation of the scheme from its starting and during its functioning to ensure repayment of loans to Banks from the incremental incomes from out of the scheme. This committee shall be exclusively responsible for utilisation of the bank loans and, to perform the functions assigned to them as follows:(a)The Committee will co-ordinate with the Bank for the timely flow of credit to enable the Panchayat Raj Institutions to satisfactorily complete the project as scheduled so that funds are released at appropriate time and no time funds are not locked up.(b)The method of entrustment of the work and the time required for fulfilling the formalities like calling for tenders, finalization of tenders entering into agreements, issue of works order etc., will be undertaken by the Committee.(c)Any anticipated delays in commissioning the project/scheme like delays in power supply, obtaining statutory permissions will be taken care of by the Committee.
