After drawing flak from the Comptroller & Auditor General of India (CAG) for its failure to come out with an Action Plan to close non-working PSUs, the state government has initiated steps in this connection.
The department of public enterprises has urged different departments to complete the necessary formalities for shutting down non-working PSUs under their administrative control.
"There are 32 non-working PSUs in the state and they are almost defunct. Only that we have to apply to the Registrar of Companies, Government of India to formally close down these units which exist on paper. We have asked the departments to compile the necessary data on non-working PSUs under their control”, said a top official source.
The minister for public enterprises Prafulla Ghadai had said recently that out of 33 working state PSUs, 27 are making profits and the government was committed to step up their profitability further. The department of public enterprises is also focused on wiping out losses of loss making PSUs.
The department has taken several steps to improve the organizational efficiency of the PSUs like inculcating high standards of professionalism among the employees and appointing independent directors.
Besides, efforts were underway for restructuring of two PSUs- Idcol Ferrochrome Alloys Ltd (IFAL) and Idcol Kalinga Iron Works Ltd (IKIWL).
For Idcol Kalinga Iron Works, the department was thinking of forging joint venture either with a Central or state PSU.
Similarly, the state was planning to revamp IFAL through infusion of fresh capital.
Two Central PSUs- Steel Authority of India Limited (SAIL) and National Aluminium Company (Nalco) have evinced interest in picking up stakes in IKIWL and IFAl.
