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| Govt for revival of PSUs, directs for transparency in functioning | | | Ishtiyaq Ahmad
Early Times Report
srinagar, Sept 13: With most public sector undertakings running in losses, the government has issued strict instructions to their heads to ensure transparency into their functioning.
The instructions have been issued in view that there has been misappropriation of funds and Anti Corruption Bureau having registered several cases against their top officials
"No new posts shall be created by the PSUs without the prior concurrence of Finance department. No recruitment shall be made by public sector undertakings, autonomous bodies, societies, without following a transparent and due process including advertisements inviting applications from eligible candidates irrespective of class of the posts," the government has recently directed PSUs.
"The PSUs shall follow a fair and transparent method of recruitment and shall seek prior concurrence of the Finance Department for creation of any new posts or filling up of vacant positions," the instructions read.
The heads of PSUs have been directed to prepare all the due statements of accounts by the end of September 2019 and annual audits shall be completed up to March 31, 2019.
"All the PSUs shall immediately convene the board of directors meeting to ensure that all actions required towards transition in pursuance of J&K Reorganization Act 2019 are completed before ending September, 2019," the instructions read.
As per the instructions issued by the government, the PSUs and autonomous bodies shall strictly follow the procedure of transparent bidding process for procurement of goods and services and in awarding contracts.
The PSUs and autonomous bodies would make recruitments on their own while the government recruitments of departments are to be done through recruitment agencies.
Sources said that government wants immediate revival of PSUs.
"Many PSUs have become a burden on the government exchequer. Several senior officers have told the government that PSUs could be revived only when there is transparency in their functioning," sources said.
Having been set up to generate employment and revenue, most of the PSUs are running in losses.
The PSUs were set up to generate revenue and create new job opportunities in the state. However, official data reveals that out of 23 PSUs, around 12 have incurred heavy losses over the years. The PSUs like SRTC, SIDCO, JK Forest Corporation, JK Industries Limited, JKWDC, J&K Horticulture Produce Marketing and Processing Corporation Limited, JKTDC, J&K Minerals are running in losses worth crores of rupees. |
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