THIRUVANANTHAPURAM: State-owned public sector models collectively incurred a lack of Rs 1,222.06 crore in 2018-19, in keeping with the CAG report on PSUs tabled within the meeting on Thursday. The KSRTC was the largest loss-making unit together with Textiles Company, Civil Provides Company and Travancore Titanium whereas KSFE, KMML, Drinks Company and Cashew Improvement Company made revenue.
The CAG report mentioned a lack of Rs 536.37 crore incurred by working PSUs — aside from in energy sector — in 2014-15 elevated to Rs 1,222.06 crore in 2018-19. Of the 1,221 working state PSUs, 53 collectively earned a revenue of Rs 574.49 crore whereas 58 PSUs collectively incurred a lack of Rs 1796.55 crore.
The report identified that deficiencies in planning and implementation of Bus Terminals-cum Buying Complexes (BTSCs) by KSRTC led to delay in completion and insufficient assortment of interest-free safety deposit for financing the development. This resulted in lack of licence payment (Rs 25.59 lakh) in three BTSCs, refund of IFSD (Rs 50.95 lakh) in a single BTSC, diminished realisation of IFSD (Rs 19.56 lakh) in a single BTSC and further expenditure (Rs 4.57 lakh) in a single BTSC. Delay in conducting tender-cum-auction to hire out the vacant areas in accomplished BTSCs resulted in under-utilisation of economic areas.
The audit report noticed that non-adherence to state authorities pointers for implementing e-governance initiatives affected well timed implementation of ERP (Enterprise Useful resource Planning) methods in seven PSUs. 5 PSUs couldn’t derive any profit even after incurring Rs 1.15 crore attributable to non-completion of ERP methods. Equally delay in power audit, failure to attain particular power consumption norms and non-availing of open entry facility led to additional expenditure. In one other comparable occasion, non-procurement of enough amount of paddy by PSUs led to under-utilisation and idling of paddy processing capability established by spending Rs 21.85 crore. Solely a meagre amount of the full rice produced was channelled via public distribution system, thus hindering the target of guaranteeing truthful value to farmers and rice at an inexpensive price to customers.
Delay in finishing civil works, deficiency in tendering and denial of consultancy payment by State Poultry Improvement Company resulted in avoidable delay in finishing Hello-tech Business Layer Farm challenge and idling of funding amounting to Rs 7.31 crore, mentioned the report.
Main profit-making PSUs
Kerala State Monetary Enterprises Ltd
Rs 144.41 crore in 2017-18
Kerala Minerals and
Metals Ltd
Rs 104.46 cr in 2018-19
Kerala State Drinks Company
RS 85.93 crore in 2016-17
Kerala State Cashew Improvement Company Rs 61.59 crore in 2013-14
Main loss-making PSUs
Kerala State Highway Transport Company
Rs 1,431.29 crore in 2014-15
Kerala State Textiles Company
Rs 53.17 crore in 2014-15
Kerala State Civil Provides Company
Rs 25.91 crore in 2015-16
Travancore Titanium Merchandise Ltd
Rs 23.63 crore in 2014-15
