J&K PSUs lose `276 crore in 3 years

JAMMU: More than Rs 276 crore losses were incurred in the public sector undertakings (PSU) during the past three years in Jammu and Kashmir, state government said on Tuesday.
In a written reply to a question of a BJP MLA, Industries and Commerce Minister Sajjad Ahmad Kitchloo informed the Legislative Assembly that the loss statements of the public Sector Bodies during the past three years are Rs 276 crore.
The highest, Kitchloo said, was incurred in J&K Minerals Ltd with 247 crore followed by Jammu and Kashmir Handloom Development Corporation which saw a loss of Rs 20 crore.
Jammu and Kashmir Handicrafts (S&E) Corporation incurred Rs 7 crore from 2010 to 2013 with Jammu and Kashmir Industries Ltd suffering around Rs 43.36 lakh and J&K cements Rs 57 lakh.
The government in its reply also said that there are nearly 360 sick industrial units in Kashmir as against 89 in Jammu whereas 9663 units are functional in Kashmir and 11850 in Jammu.
The minister said that 3518 industrial units in the state were functional prior the eruption of militancy in 1989.
In order to identify the industrial units in the state which have become sick due to onset of militancy in the state, Kitchloo said, the government of J&K vide order number 47-IND of 1999 dated February 2, 1999 constituted a state level revival committee with certain terms and conditions.
“Pursuant to various decisions taken in the above said committee, 368 sick units identified in Kashmir division out of which 59 units have been sanctioned soft loan by the government under the rehabilitation package while in Jammu division among the identified 89 sick units. Eight units were approved by State Rehabilitation Committee for loan.
He also said that the state government has also constituted a sub-committee vide order No:156-ind of 2013 dated July 26, 2013 to conduct fresh survey and ascertain the present viability of all sick units. The committee has conducted the survey and submitted its report, which is presently under consideration.
Kitchloo said that an amount of Rs 70.38 crore have been spent during previous plan. He said 1028 units were registered in small scale industrial units which generated employment for 6801 persons and invested Rs 257 crore with 22 units in large and medium scale which generated employment for 3296 for which Rs 946.97 crore were spent.