news details |
|
|
| What ails our PSUs? | | | Early Times Report
Srinagar, March 5: The economic survey report presented in the State assembly last week has painted a very disappointing picture of the industrial sector in the State.
It is sad that the report clearly says none of the public sector undertakings (PSUs) has performed well in the State with most of them already incurring huge losses. The survey says the maintenance of the PSUs is a huge burden on the State exchequer which the J&K government might not be able to bear for long.
Out of the 19 PSU's, 7 are getting budgetary support from the State government. In the fiercely competitive industrial sector where the private players have a formidable role, the PSUs have not been able to stand up to the challenges.
In another revelation the economic survey says the State government has signed an MOU with the central government to phase out the state government support to the PSUs. Inspite of the losses, the PSUs have to afford salaries to 1050 employees including 180 of those on deputation to the PSUs.
In the only PSU that has been showing some promise is the small scale industries development corporation (SICOP). It is ironical that while industries established in the private sector are making profits those industries established in the public sector are running losses for more than half a century.
Kashmir once had a matchbox industry in Baramulla town which was very popular and almost iconic of the Valley's industries. There are more than 500 matchbox industries in south and all of them have been making profits. The Kashmir matchbox factory was closed for reasons best known to the authorities even when it had no reason to make losses.
Similarly, another iconic PSU in the state is the state road transport corporation (SRTC). There is no place in the World where a transport company runs losses. There is no apparent reason the SRTC should be incurring losses. The future of the employees working with the SRTC is linked with the future of the corporation and it can be said without any fear of rebuttal that nobody must sit on a branch and at the same time start sawing it.
This is perhaps better known to the employees of the SRTC. Yet, what must be reasons for the failure of a dream once known as state transport? It is definitely something that ails the SRTC from within and outside. The PSUs have been always headed by officials sent on deputation by the state government. The stakes of those on deputation to the PSUs are literally zero. Therefore, their fate does not depend on the fate of the PSU.
This is one of the reasons for the failures of our PSUs besides non-availability of professional and highly skilled workforce. |
|
|
|
|
|
|
|
|
|
|
|
|
| |
| |
|
|
|
|
 |
|
|
|
|
STOCK UPDATE |
|
|
 |
| BSE
Sensex |
 |
| NSE
Nifty |
|
|
| |
CRICKET UPDATE |
|
|
|
|
| |
| |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
