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13 PSUs incur aggregate loss of Rs 741.27 crore

By Staff
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Patna, Mar 24: Bihars 13 public sector undertakings incurred an aggregate loss of Rs 741.27 crore as per their latest finalised accounts, according to reports of the Comptroller and Auditor General of India (CAG) for 2004-05.

The CAG reports were tabled in the Assembly today.

According to the latest finalised accounts, six working PSUs (five state government companies and one statutory corporation) earned aggregate profit of Rs 16.98 crore.

Of the loss incurring working government companies, seven, whose accounts were finalised during October 2004 to September 2005, had accumulated losses aggregating Rs 167.69 crore, which exceeded their aggregate paid up capital of Rs 33.85 crore.

Of the three loss incurring statutory corporations, two had accumulated losses of Rs 1,077.84 crore, which exceeded their paid up capital of Rs 179.11 crore.

According to the CAG reports, none of the working government companies and working statutory corporations have finalised their accounts for 2004-05. The accounts of 16 working government companies and four working statutory corporations were in arrears for the period ranging from one to 22 years as on September 30, 2005.

The accounts of all non working government companies were in arrears for periods ranging from 10 to 28 years.

UNI

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