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| Semi-govt organisations suffer Rs 190 crore loss in 2 years | | J&K Cements, JKSRTC top the list, Handloom corporation running in loss since its inception | | Early Times Report
JAMMU, Mar 30: Various semi-government organisations in Jammu and Kashmir have become a burden on the state exchequer.
Sources told Early Times that these organisations have suffered a loss of Rs 191 crores during the past two years.
Among these semi-government organisations, which have turned into a "white elephants" Jammu and Kashmir Cements Limited (JKCL) tops the list. In the 2016-17 the JKCL suffered a loss of Rs 46 core, 17 lakhs, while in the last financial year it suffered a loss of Rs 31 crore, 73 lakhs.
The Jammu and Kashmir State Road Transport Corporation (SRTC) and the State Financial Corporation (SFC) are two other semi-government undertakings, which suffered huge losses.
In the year 2016-17 the SFC suffered a loss of Rs 1 crore, 2 lakhs, while as last year this loss stood at Rs 45 lakh, 73000.
The Jammu and Kashmir Handloom Corporation (JKHC) was constituted in 1981 to help the artisans to set up small scale industries in the state but since then this Corporation has been facing constant losses. In 2013-14 JKHC recorded the loss of Rs 9 crore and in the year 2016-17 these losses reached Rs 14 crore, while in the first seven month of the last fiscal it witnessed the loss of Rs 3 crore 6 lakhs.
The SRTC during the past few years has gone from bad to worse. During the past few years the SRTC has recorded loss of Rs 150 crore.
Sources said that State Industrial Development Corporation, Jammu and Kashmir Handicrafts Corporation, Horticulture Production and Marketing Corporation and Schedule Caste, Schedule Tribe Board are few semi government organisations which are doing good.
They said that other public sector undertakings which are profit making companies, include Jammu and Kashmir Police Housing Corporation, Small Scale Industries Development Corporation and Jammu and Kashmir Women's Development Corporation.
Sources said that Jammu and Kashmir Mineral and Project Construction Company are two such PSUs which after overcoming losses have entered into the list of profit making organisations. |
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