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Meghalaya PSUs incur losses of over Rs 389 cr

By Staff Correspondent
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SHILLONG, Sept 25 - Meghalaya�s Public Sector Undertakings (PSUs), most of which are loss-making units, have not submitted their accounts to the Accountant General (AG) for the past five-odd years.

There were 17 PSUs in the State, however, two have now become defunct, the Public Undertaking Committee (PUC) of Meghalaya Assembly informed after an assessment of the PSUs� performance.

Out of these PSUs, Meghalaya Tourism Development Corporation (MTDC), Forest Development Corporation (FDC) and Meghalaya Government Construction Corporation Limited (MGCC) have been able to register profits and rest are incurring huge losses.

�These three units (MTDC, FDC, MGCC) have, however, not submitted their accounts for the past five years. Most of the other units too have not submitted their accounts to the Accountant General (AG) for the past five odd years,� PUC Member, Tittostarwell Chyne said.

Expressing concern over the poor financial health of the PSUs, he said, as per the CAG report, these PSUs incurred an overall loss of Rs 389.50 crore.

�The committee is deeply concerned over the loss incurred by these PSUs and thereby putting a huge burden on the State exchequer,� Chyne said.

The Meghalaya Transport Corporation (MTC) is one such loss-making unit which is over-staffed. The MTC runs just 64 buses, but it has 383 staff to look after these buses.

He said that the Government has planned to close down Meghalaya Electronics Development Corporation and FDC. The Meghalaya Bamboo Chips Limited has already been shut.

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Meghalaya PSUs incur losses of over Rs 389 cr

SHILLONG, Sept 25 - Meghalaya�s Public Sector Undertakings (PSUs), most of which are loss-making units, have not submitted their accounts to the Accountant General (AG) for the past five-odd years.

There were 17 PSUs in the State, however, two have now become defunct, the Public Undertaking Committee (PUC) of Meghalaya Assembly informed after an assessment of the PSUs� performance.

Out of these PSUs, Meghalaya Tourism Development Corporation (MTDC), Forest Development Corporation (FDC) and Meghalaya Government Construction Corporation Limited (MGCC) have been able to register profits and rest are incurring huge losses.

�These three units (MTDC, FDC, MGCC) have, however, not submitted their accounts for the past five years. Most of the other units too have not submitted their accounts to the Accountant General (AG) for the past five odd years,� PUC Member, Tittostarwell Chyne said.

Expressing concern over the poor financial health of the PSUs, he said, as per the CAG report, these PSUs incurred an overall loss of Rs 389.50 crore.

�The committee is deeply concerned over the loss incurred by these PSUs and thereby putting a huge burden on the State exchequer,� Chyne said.

The Meghalaya Transport Corporation (MTC) is one such loss-making unit which is over-staffed. The MTC runs just 64 buses, but it has 383 staff to look after these buses.

He said that the Government has planned to close down Meghalaya Electronics Development Corporation and FDC. The Meghalaya Bamboo Chips Limited has already been shut.

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