CAG recommends closure of 9 PSUs

Bhopal, Mar 25 (UNI) The Comptroller and Auditor General of India has recommended either to improve the performance or consider closure of the Madhya Pradesh Government's nine companies having poor turnover in the last five years.

''Even after completion of five or more years of existence, the turnover of nine government companies has been less than Rs 5 crore in each of the preceding five years. In view of the poor turnover, the government may either take steps to improve the performance of the government companies or consider their closure'', said the CAG's report for 2006-07 presented in the Assembly recently.

The companies include: Madhya Pradesh Police Housing Corporation, M P Audyogik Kendra Vikas Nigam(Bhopal), MPAKVN(Jabalpur), MPAKVN(Rewa), Industrial Infrastructure Development Corporation (Gwalior), M P Pichhara Varg Thatha Alpasankhyak Vitta Evam Vikas Nigam, M P Adivasi Vitta Evam Vikas Nigam, The Provident Investment Company Limited and Madhya Pradesh Urja Vikas Nigam Limited.

As on March 31, 2007. there were 40 government companies (31 working and nine non-working) and four statutory corporations.

Accounts of 27 working government companies and three statutory corporations were in arrears for periods ranging from one to seven years by September end last year, the report pointed out. adding the accounts of all nine non-working companies were in arrears for periods ranging from one to 17 years.

The state government did not undertake any disinvestment, privatisation or restructuring of any of its PSUs during 2006-07.

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