Fifteen Himachal PSUs in red, cumulative losses of Rs.1,660 crore

March 22nd, 2012 - 7:58 pm ICT by IANS  

Shimla, March 22 (IANS) Fifteen public sector undertakings (PSUs) in Himachal Pradesh, including the state electricity board and the tourism corporation, are in the red, with the cumulative losses of Rs.1,660 crore, says a report.

The Himachal Pradesh State Electricity Board, the state’s largest undertaking with over 25,000 employees, tops the list of loss-making PSUs. Its losses are Rs.894.15 crore, said the report tabled in the assembly during the budget session.

The Himachal Pradesh Road Transport Corporation, with a fleet over 1,200 buses, had losses of Rs.572.79 crore upto March 31, 2011 against Rs.230.06 crore in 2010.

The corporation is operating buses on uneconomical routes in remote areas. Moreover, concessional travelling facility extended to various categories of commuters is also draining the exchequer, said the report.

Surprisingly, the Himachal Pradesh Tourism Development Corp, which claimed that the annual tourist arrivals in the state crossed the 1.5 crore mark in 2011, has cumulative losses of Rs.16.94 crore.

The Himachal Pradesh Horticultural Produce Marketing and Processing Corp (HPMC), which is mainly marketing apple juice concentrate, has incurred losses of Rs.55.28 crore, while the state forest corporation and Agro Industrial Packaging Ltd suffered losses of Rs.31.66 crore and Rs.77.80 crore respectively.

On the other hand, the Himachal Pradesh Urban Development Authority (HIMUDA) has earned a cumulative profit of Rs.127.66 crore.

The state civil supplies corporation, which is providing three ‘dals’, two edible oils and salt to over 11 lakh above poverty line ration card holders at subsidized prices, has recorded a profit of Rs.18.95 crore.

The 2012-13 budget has the provision of Rs.130 crore for continuation of subsidy on ration items.

The state industrial corp has earned a cumulative profit of Rs.9.77 crore but it was in the red during 2010-11 with loss of Rs.2.42 crore.

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