Accumulated losses of Assam state PSUs over Rs 1,000 cr: CAG

GUWAHATI: The state public sector undertakings of Assam have incurred accumulated losses of a staggering Rs 1,091.09 crore at the end of the last fiscal, according to a report by the Comptroller and Auditor General of India.

The CAG, which submitted its report in the Assam Assembly last week, said the losses were mainly caused by deficiencies in management and other operational factors and called for better management.

However, the CAG noted, the accumulated losses came down from Rs 6,465.55 crore in 2005-06 to Rs 1,091.09 crore in 2011-12.

Still, the auditor said, nearly Rs 1,700 crore constituted 'controllable' losses.

"The losses of PSUs were mainly attributable to deficiencies in financial management, planning, implementation of project, running their operations and monitoring," the report said.

Calling for better management of the PSUs, the CAG said such organisations require more professional approach.

"... with better management, losses can be minimised (or eliminated or the profits can be enhanced substantially). The PSUs can discharge their role efficiently only if they are financially self-reliant.