10 PSUs burden on exchequer

Pratibha Chauhan

Tribune News Service

Shimla, February 9

Ten of the 23 public sector undertakings (PSUs) are in the red with the total accumulated losses being pegged at Rs 3,630 crore till March 31, 2018.

The government has made an investment of Rs 3,919.52 crore in 23 boards and corporations having an employee strength of 41,282.

The PSUs suffering losses are the HP Financial Corporation, HP State Electricity Board (HPSEB), Himachal Roadways Transport Corporation (HRTC), HP Power Corporation Ltd, HP Solar Energy Corporation, HP Scheduled Caste and Scheduled Tribal Corporation, HP Agro-Industries Corporation Ltd, HP State Forest Corporation, HP Handicrafts and Handloom Corporation and HP Tourism Corporation Ltd.

The losses that these 23 PSUs suffered in 2015-16 was Rs 8.97 crore which mounted to Rs 192 crore in 2016-17 and Rs 180.73 crore in 2017-18.

The highest profit-making PSU include the HP State Industrial Development Corporation with a total profit of Rs 55.10 crore, HP General Industries Corporation Rs 25.96 crore, HP State Cooperative Milk Producers Federation Rs 16.73 crore and HP State Electronics Development Corporation Rs 6.25 crore. The profit registered by most other units is meager.

The biggest loss-making PSUs include the HRTC at Rs 1,232.47 crore, HP State Electricity Board at Rs 2,038.14 crore, HP Financial Corporation Rs 166.35 crore, HP Power Corporation Ltd at Rs 109.17 crore and HP State Forest Corporation Rs 114.02 crore. The government has not been able to merge or wind them up due to pressure from the employees.