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Fifteen Public Sector Undertakings have incurred a loss of Rs 507.36 crore in Odisha

Bhubaneswar:26/3/18; The Comptroller and Auditor General (CAG) on Monday said 15 Public Sector Undertakings (PSUs) have incurred a loss of Rs 507.36 crore in Odisha.

According to the report on public sector undertakings for the year ended March 2017 tabled in the state Assembly, out of 56 working PSUs, 35 PSUs earned a profit of Rs 2,028.23 crore and 15 incurred loss of Rs 507.36 crore during October 2016 to September 2017.

One PSU prepared its accounts on ‘no profit no loss’ basis as the excess of expenditure over income was met from the subsidy from Government of Odisha/Government of India.

The CAG stated that five Odisha PSUs have not yet started their commercial production.

Major contributors to profit were Odisha Mining Corporation (Rs 1,320.51 crore), Odisha Power Generation Corporation (Rs 178.16 crore) and Odisha Hydro Power Corporation Limited (Rs 137.97 crore).

Heavy losses were incurred by Grid Corporation of Odisha (Rs 406.66 crore), Odisha Rural Housing and Development Corporation (Rs 42.93 crore) and IDCOL Kalinga Iron Works Limited (Rs 21.18 crore).

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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