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CAG pulls up Govt for PSU losses

By Staff Reporter
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GUWAHATI, Feb 12 � The Comptroller and Auditor General of India (CAG) has pulled up the State government for failing to improve the functioning of the Public Sector Undertakings (PSU) and minimize/eliminate their losses.

In its report (commercial) for the Assam government for the year ended on March 31, 2010, the CAG has pointed out the heavy losses incurred by the Central Assam Electricity Distribution Company (Rs 38.91 crore), the Assam Industrial Development Corporation Limited (Rs 30.82 crore) and the Assam State Transport Corporation (Rs 23.50 crore).

Singh said that there is a need for professionalism and accountability in the functioning of PSUs to check the losses. �The losses are attributable to various deficiencies in the functioning of PSUs. A review of three years audit reports of CAG shows that the State PSUs losses of Rs 1093.45 crore and infructuous investments of Rs 25.48 crore were controllable with better management,� he said.

On the other hand, the report has also slammed the

Assam Power Generation Corporation Limited (APGCL) for extending undue favour to Bharat Heavy Electricals Limited by reducing liquidated damage by Rs 9.75 crore. In deployment of employees too, APGCL did not conform to the norms as recommended in the National Electricity Plan. It had 1386 employees as on March 31, 2010 and the excess manpower entailed extra expenditure of Rs 165.06 crore. It failed in capacity addition too as visualized by the government. As against 1855 MW capacity addition envisaged by the government to meet the energy generation requirement in the State during 2005-10, the actual addition was 100 MW only leaving a big deficit of 1755 MW.

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CAG pulls up Govt for PSU losses

GUWAHATI, Feb 12 � The Comptroller and Auditor General of India (CAG) has pulled up the State government for failing to improve the functioning of the Public Sector Undertakings (PSU) and minimize/eliminate their losses.

In its report (commercial) for the Assam government for the year ended on March 31, 2010, the CAG has pointed out the heavy losses incurred by the Central Assam Electricity Distribution Company (Rs 38.91 crore), the Assam Industrial Development Corporation Limited (Rs 30.82 crore) and the Assam State Transport Corporation (Rs 23.50 crore).

Singh said that there is a need for professionalism and accountability in the functioning of PSUs to check the losses. �The losses are attributable to various deficiencies in the functioning of PSUs. A review of three years audit reports of CAG shows that the State PSUs losses of Rs 1093.45 crore and infructuous investments of Rs 25.48 crore were controllable with better management,� he said.

On the other hand, the report has also slammed the

Assam Power Generation Corporation Limited (APGCL) for extending undue favour to Bharat Heavy Electricals Limited by reducing liquidated damage by Rs 9.75 crore. In deployment of employees too, APGCL did not conform to the norms as recommended in the National Electricity Plan. It had 1386 employees as on March 31, 2010 and the excess manpower entailed extra expenditure of Rs 165.06 crore. It failed in capacity addition too as visualized by the government. As against 1855 MW capacity addition envisaged by the government to meet the energy generation requirement in the State during 2005-10, the actual addition was 100 MW only leaving a big deficit of 1755 MW.

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