The government will take action to curb losses incurred by the central public sector enterprises as pointed out by the auditing regulator CAG in its report, Parliament was informed today.
"The administrative ministries/departments concerned with the CPSEs are required to take necessary action on the observations...Pointed out in the report of C&AG," Minister of State for Heavy Industries and Public Enterprises Arun Yadav said in a written reply in the Rajya Sabha.
He said that concerned administrative ministry or departments are also required to submit Action Taken Notes to the Committee on Public Undertakings after getting the same vetted by the office of Comptroller and Auditor General (CAG).
C&AG has said that as on March 2008, the accumulated losses of 72 government companies (out of 103) were Rs 94,428 crore against equity investment of Rs 15,762 crore, making their combined net worth negative at Rs 78,665 crore.
This included six listed companies whose accumulated losses were Rs 11,349 crore against equity investment of Rs 1,451 crore, making their combined net worth negative at Rs 9,898 crore.
