PAG asks Bengal to revamp 39 PSUs or close down

By Staff
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Google Oneindia News

Kolkata, Jul 24 (UNI) West Bengal Principal Auditor General(PAG) Arijit Ganguly today urged the state government to 'improve performance of 39 state Public Sector Undertakings (PSUs) or consider closure'.

Speaking to mediapersons here after releasing the report of the Comptroller and Auditor General of India (for the year ended on March 31, 2005), Mr Ganguly said.''The PSUs should be profit-making.

Otherwise the government should close them down.'' Talking about other PSUs, Mr Ganguly said, ''Even after completion of more than five years of their existence, the individual turnover of 14 working and five non-working government companies as well as one working statutory corporation had been less than Rs five crore in each of the preceding five years as per their latest finalised accounts.'' The report also mentioned that ''Between May 2003 and December 2004, the state government decided to close eight government companies, privatise 11 companies as well as restructure four companies within the government sector.

During 2004-05 five more companies were closed after paying compensation of Rs 21.57 crore to 412 emplyees...the government undertook financial restructuring of three companies.'' UNI JYN PL DB1852

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