Out of the 44 public sector undertakings (PSUs) in Jammu and Kashmir, 24 are running in losses while four are non-functional, the Union Territory government informed the Assembly on Tuesday.
In a written reply to legislator Javaid Riyaz, Deputy Chief Minister Surinder Kumar Choudhary stated that the Union Territory has 10 profit-making PSUs, 24 loss-making PSUs, four non-functional PSUs, two statutory corporations, and one dormant PSU.
Profit-Making PSUs
The profit-making entities include Jammu and Kashmir Bank, Jammu and Kashmir State Power Development Corporation Limited, Jammu and Kashmir Medical Supplies Corporation Limited, Jammu and Kashmir Cable Car Corporation Limited, Jammu and Kashmir Women’s Development Corporation, J&K Bank Financial Services Limited, Jammu and Kashmir Police Housing Corporation, Chenab Valley Power Projects Limited, Ratle Hydroelectric Project Corporation Limited, and Jammu and Kashmir Development Finance Corporation Limited.
Loss-Making PSUs
Among the loss-making PSUs are Jammu and Kashmir Industries Limited, Jammu and Kashmir SC ST and BC Development Corporation, Jammu and Kashmir Trade Promotion Organisation, Jammu and Kashmir Horticultural Produce Marketing and Processing Corporation, Jammu and Kashmir Power Corporation Limited, Kashmir Power Distribution Corporation Limited, Jammu and Kashmir Handicrafts Sales and Export Corporation, Jammu and Kashmir State Power Transmission Company Limited, Srinagar Mass Rapid Transit Corporation, and Jammu and Kashmir Agro Industries Development Corporation Limited.
Other loss-making entities include Jammu and Kashmir Forest Development Corporation Limited, Jammu and Kashmir Entrepreneurship Development Institute Foundation, Jammu and Kashmir State Handloom Development Corporation Limited, Jammu Power Distribution Corporation Limited, Jammu and Kashmir SIDCO Limited, Jammu Mass Rapid Transit Corporation, Jammu and Kashmir Tourism Development Corporation, Jammu and Kashmir Cements Limited, Jammu and Kashmir Projects Construction Corporation Limited, Jammu and Kashmir Infrastructure Development Finance Corporation Limited, Jammu Smart City Limited, Srinagar Smart City Limited, and Jammu and Kashmir Minerals Limited.
Statutory and Other Categories
The two statutory corporations — Jammu and Kashmir and Ladakh Finance Corporation and Jammu and Kashmir State Road Transport Corporation — are also operating at a loss.
The non-functional PSUs include Overseas Employment Corporation, Jammu and Kashmir Road Development Corporation, Jammu and Kashmir Handloom and Handicrafts RMSO Limited, Tawi Scooters Limited, Himalayan Wool Combers Limited, Jammu and Kashmir IT Infrastructure Private Limited, and International Trade Centre Jammu and Kashmir.
The dormant PSU is Jammu and Kashmir Asset Reconstruction Limited.
The Deputy Chief Minister stated that the respective administrative departments are examining measures to strengthen and revive sick or loss-making PSUs, including steps related to infrastructure and manpower, to improve their operational and financial performance.
