| J&K Industries Limited : Dead, yet not done with | | Of 15 Industrial units, 11 dead, 4 manufacturing huge losses | | Arun Singh
JAMMU, June 4: Jammu and Kashmir Industries Limited is dying a sure death with 11 of its 15 units closed down and remaining four only manufacturing losses to the tune of Rs 18 Cr till date due to their poor output and productivity.
Sources told Early Times that Jammu and Kashmir Industries Limited was incepted in 1963 as Government undertaking and started its activities with 15 industrial units which were engaged in manufacturing of textiles, resin, leather goods, woolen fabrics, wooden goods etc.
"Out of 15 Industrial Units, 9 units stand already closed, 4 units are functional and 2 are non functional," they said further adding that undertaking is providing employment to 1050 persons which is inclusive of 180 persons on deputation in various Government departments.
They said that the JKI has poorly performed over the years on productions and sales front. "The value of production during 2000-01 was recorded to the tune of Rs. 21.24 crore, in 2002-03 it was Rs 33.45 crore but it showed decline to only Rs. 11.73 crore in 2012-13 while in the current financial year the production value has been recorded to the tune of Rs. 9.28 Crore.
"Going by the previous trends, it is believed that the undertaking shall not be able to retain even the last year's level and thus the declining trend in production is likely to continue," sources informed.
Similarly the sales volume of the undertaking were of the order of Rs. 17.22 crore during 2001-02 and in subsequent years, it started decreasing quite sharply and reached to only Rs. 3.64 crore in 2008-09 and it fell to Rs. 2.63 crore in 2010-11
They further said that with the failure of JKIL production and sales it has been continuously running into losses due to various reasons including surplus staff, low productivity, obsolete and worn out machinery and equipment, closure of most of the units and non-availability of technical staff.
"During 2000-01 it incurred loss of Rs 21.79 crore, in 2001-02 the loss increased to Rs 36.22 crore, in 2002-03 incurred loss of Rs 42.86 crore, in 2012-13 the loss was Rs 16. 04 crore and in 2013-14 the loss was Rs 17. 69 crore," they disclosed. |
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