Staff Reporter
GUWAHATI: Most of the 52 PSEs (Public Sector Enterprises) under various departments of the Assam government are either loss-making or non-operational ones. Despite that, the state government continues to pump in funds to these PSEs.
In its latest report, the CAG has advised the state government to expedite the process for the closure of the 16 non-working PSEs as they are neither contributing to the state economy nor are they meeting their intended objectives. The CAG has also advised the government to take initiatives to make efficient the PSEs, which have their networks eroded. “In the absence of the latest finalized accounts, government investments in such arrears PSEs remain outside the oversight of the state legislature,” the report said.
Some of the 16 non-operational PSEs are Assam Agro-Industry Development Corporation, Assam Government Construction Corporation Ltd, Assam Conductors and Tubes Ltd, Assam Textile Corporation, Cachar Sugar Mill, Assam Polytex Ltd, Assam Syntex Ltd, etc. The state government has an outstanding long-term loan of Rs 2,866 crore at the close of 2022–23 to these PSEs.
According to sources, mismanagement, overstaffing, undue political interference, etc. are some of the major reasons behind such companies making losses. None of the stakeholders pay attention to fulfil the objectives for which such PSEs were set up. To cap it all, the required monitoring from the government to check mismanagement, etc., was blatantly lacking. Even against such a backdrop, a few of the PSEs have been making profits. Fourteen of the 36 working PSEs in the state are solely dependent on the state government for their employees’ salary burden. Even in such a backdrop, the state government invested Rs 14,252 crore as equity and long-term loans as of March 31, 2023.
What is even more baffling is that the PSEs do not submit their account details to the government in time. “As of March 31, 2023, there were 52 PSEs in the state. The PSEs did not adhere to the prescribed timeline regarding submission of their financial statements, as 45 PSEs had a total of 410 accounts pending finalization as of September 30, 2023. Further, 20 PSEs had 348 accounts pending finalization for more than five years as of September 30, 2023,” the report said.
Also read: Assam: New Posting Policy for Junior Grade ACS Officers in State (sentinelassam.com)
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