Summary:
THIRUVANANTHAPURAM: The latest CAG report (2016-17) said that public sector undertakings (PSU) incurred an accumulated loss of Rs 6,348.10 crore. As on March 31, 2017, the state had 115 working PSUs (111 firms and four statutory corporations) and 15 non-working PSUs, including four under liquidation, said the report that was tabled in the assembly. "Working PSUs registered a turnover of Rs 26,463.28 crore which was equal to 4.04% of state's GDP," it said.The finalized accounts of working PSUs revealed that 45 PSUs earned a profit of Rs 382.84 crore and 64 incurred a loss of Rs 2,216.01 crore, while two had neither profit nor loss. There were also deficiencies in ensuring security of data hosted by state data centre (SDC) due to non-formulation of disaster recovery and business continuity plans and absence of independent security audit. Four PSUs failed to finalize their accounts.The major contributors to profit at various periods (between 2014 and 2016) included Bevco, KSFE and KSIDC, while the top loss-making PSUs were KSRTC, KSEB and Kerala State Civil Supplies Corporation..