Sunday, September 14, 2025
spot_img

Only 4 out of 16 made profit in 2015-16 Most State PSUs in the red: CAG

Date:

Share post:

spot_imgspot_img

SHILLONG: Many public sector units in the State have turned into loss-making units, a report of the Comptroller and Auditor General has pointed out.
The report said in 2015-16, out of 16 working State public sector undertakings, four earned profit of Rs 4.93 crore and 10 incurred loss of Rs 394.43 crore.
The main contributors to profits were Meghalaya Government Construction Company (Rs 2.96 crore) and Forest Development Corporation of Meghalaya Limited (Rs 0.61 crore).
Heavy losses were incurred by Meghalaya Power Distribution Corporation Limited (Rs 295.15 crore), Meghalaya Power Generation Corporation Limited (Rs 70.02 crore), Mawmluh Cherra Cements Limited (Rs 19.07 crore) and Meghalaya Transport Corporation (Rs 5.73 crore).
The report added that the overall losses of the working PSUs increased considerably from 2013-14 onward and peaked at Rs 389.50 crore mainly due to huge losses (Rs 366.55 crore) incurred by three power sector companies – Meghalaya Power Generation Corporation Ltd (70.02 crore), Meghalaya Power Distribution Corporation Ltd (Rs 295.15 crore) and Meghalaya Power Transmission Corporation Ltd (Rs 1.38 crore).
The report says contrary to the constant growth registered by the State GDP from 2011-2012 to 2015-2016 financial years, the turnover of the State PSUs has shown a decreasing trend up to 2013-14 and increased thereafter during subsequent two years.

spot_imgspot_img

Related articles

Salman Khan visits Ladakh Lieutenant Governor Kavinder Gupta while filming ‘Battle of Galwan’

Mumbai, Sep 13: Bollywood hunk Salman Khan visited the Lieutenant Governor of Ladakh, Kavinder Gupta, at Raj Niwas...

Indian Army demonstrates tactical excellence in exercise ‘Dibang Shakti’ in Arunachal

New Delhi, Sep 13: In a remarkable display of operational prowess, the elite troops of the Indian Army’s...

Bairabi-Sairang rail link connects Mizoram’s capital to Indian Railways network for first time: JP Nadda

New Delhi, Sep 13: Lauding the key development initiatives inaugurated by Prime Minister Narender Modi on Saturday during...

Sourav Ganguly, Harbhajan listed in Draft Electoral Rolls for upcoming BCCI elections

Mumbai, Sep 13: Former President of the Board of Control for Cricket in India (BCCI) and ex-India captain...