As per the Report of the Comptroller and Auditor Normal (CAG) of India on Public Sector Undertakings (PSUs) of Odisha for yr ended on March 2019, out of 47 working PSUs, 30 earned revenue of Rs 1,024.07 crore and 11 incurred losses of Rs 169.36 crore.
One PSU attained a break- even, one had but not submitted its account and 4 PSUs have earned ‘0’ revenue. Whereas the Industrial Improvement Company of Odisha Restricted incurred losses of Rs 89.54 crore, Odisha Rural Housing and Improvement Company Restricted and IDCOL Kalinga Iron Works Restricted incurred losses of Rs 42.93 crore and Rs 14.35 crore respectively.
However, the highest revenue making firms are the Odisha Mining Company Restricted (Rs 789.88 crore), Odisha Development Company Restricted (Rs 67.16 crore) and Odisha State Drinks Company Restricted (Rs 29.99 crore).
Among the many 9 energy sector PSUs, Gridco Restricted incurred substantial lack of Rs 197.50 crore, whereas Odisha Hydro Energy Company Restricted made a revenue of Rs 144.39 crore, Odisha Energy Transmission Company Restricted obtained revenue of Rs 19.80 crore and Odisha Energy Technology Company Restricted made revenue of Rs 4.79 crore.
The audit noticed that improper load forcasting of transformer capability in Detailed Mission Report resulted in set up of upper capability transformer resulting in further expenditure of Rs 22.31 crore.
The Odisha Electrical energy Regulatory Fee (OERC) additionally expressed concern over large combination technical and business (AT& C) losses various from 50 per cent to 74 per cent in a number of areas of the DISCOMs.
As on March 2019, the State had 82 PSUs consisting of three Statutory Companies and 79 Authorities Firms (together with that of 26 inactive Authorities firms).The CAG report additionally noticed that IDCO couldn’t meet the goal of making land financial institution of 1, 00,000 acres for quicker allotment of land to promoters.
The IDCO additionally allotted 117 acres of the Authorities land at concessional charges in violation of Industrial Coverage Decision 2007, to 2 thermal energy vegetation like Lanco and GMR, which in flip had did not begin business manufacturing inside the prescribed interval. They have been even not eligible for any incentive.
The IDCO didn’t take again 537.82 acres of the Authorities land sanctioned between April and December 1996 in favour of TISCO as advance possession for an built-in metal plant, though TOSCO didn’t utilise the land for its supposed goal.
Attributable to its failure to observe and preserve an up to date database, the IDCO didn’t recuperate GR and Cess of Rs 18.52 crore, excellent in opposition to all the industries to whom land was allotted.
For in case of 44,932.29 acres of personal land such dues couldn’t be fastened because the IDCO did not pursue the correction of their RoRs.