SHILLONG: In what can be termed as a sorry state of affairs, most of the state-owned public sector undertakings (PSUs) in Meghalaya are facing huge losses.
The matter came to light after the Committee of Public Undertakings on Wednesday summoned representatives of the PSUs for clarification on the losses.
Speaking to media persons after the meeting, MLA and member of the committee, T Chyne informed that two out of the 17 PSUs in the state were non-functional whereas the total loss of 15 functional PSUs in the state was Rs 389.50 crore.
“As a committee, we are concerned about these huge losses as it is a burden on the state government,” he said.
Chyne said only a few PSUs such as the Meghalaya Tourism Development Corporation (MTDC), Forest Development Corporation and Meghalaya Government Construction Corporation (MGCC) has shown a net profit.
But here too, the three corporations have not shown their arrears of accounts for the past four-five years, having submitted accounts only till 2011.
The Committee had also asked the Meghalaya chief secretary to attend the meeting but the latter did not turn up. According to Chyne, the committee had last year submitted its recommendations and suggestions to the state government to take measures to save the PSUs from the financial losses but the government has not taken any measures till date.
Responding to queries about the reasons for the losses, Chyne said the Meghalaya Transport Corporation (MTC), which is also a government undertaking, is over staffed as the corporation has 271 employees whereas they have 64 buses with some not in running condition.
With regard to the Mawmluh Cherra Cements Limited (MCCL), the committee was informed by the firm that there was no production in the factory since 2006-07 and that production started this year only after the commissioning of the new plant.
The Meghalaya Energy Corporation Limited (MeECL) has also suffered huge losses as the PSU has to clear loans to NEEPCO and Power Grid.
The committee further informed that the Meghalaya Electronic Development Ltd, where Rs 4.72 crore was invested, was in the process of winding up.
Besides, the Meghalaya Bamboo Chips Ltd has been closed down. Even the Forest Development Corporation does not have much work, which is a loss to the state exchequer.
The Meghalaya Government Construction Corporation, despite being a profit-making corporation, requires at least Rs 70 crore per year to sustain itself.
The Forest Development Corporation has 47 employees whereas the Meghalaya Government Construction Corporation has 102 employees.
The MTC has 271 employees while MCCL has 455.
