Himachal PSU losses worsen

The financial condition of the Himachal Pradesh's public sector undertakings(PSUs) has further deteriorated with accumulated losses now touching almost Rs 978 crore, as compared with Rs 917 crore last year.

Until March 31, last year, of the 23 PSUs in the state, 18 continued to be in the red with the Himachal Roadways Transport Corporation (HRTC) faring worst among the companies in the list with 437 crore.

Other major loss making companies are the Himachal Pradesh State Electricity Board(HPSEB) with 237 crore, and the State financial corporation, 112 crore loss.

The condition of these three companies is so bad that they account for 80 per cent of the entire losses.

The State civil supplies corporation stands out for being the only major profit making company with a profit of Rs 13.39 crore.