Eleven PSUs in Odisha running on loss; OSFC and Gridco top the list

16/11/2019 at 7:31 PM

Bhubaneswar, 16/11: Eleven out of total 36 public sector undertaking in Odisha are running on loss, admitted the state government in the assembly on Saturday. Odisha State Finance Corporation (OSFC) and Grid Corporation (Gridco) top the list of loss making PSUs.

Altogether, thirty six corporations are owned by the government. Of them , 11 are running on loss and 24 are making profit, while one corporation is operating on “no loss, no profit” basis.  Public Enterprise Minister Ashok Chandra Panda informed the assembly in reply to a written question of Congress MLA Santosh Singh Saluja.

Gridco is running on a loss of Rs 160 .73 crore, while Industrial Development Corporation of Odisha (IDCOL) has incurred  a loss of Rs 70.83 crore. The other loss making PSUs are:  Odisha State Finance Corporation ( Rs 471.55 crore) Kalinga Iron Works (Rs 162.82 crore), Konark Jute Limited ( Rs 38.15 crore), Odisha Rural Housing Development Corporation Limited ( Rs 576.47 crore till 2018-19), Kalinga Studio Limited ( Rs 24.69 lakh), Odisha Fisheries Development Corporation (Rs 23.89 lakh), Odisha Warehousing Corporation ( Rs 121.31 crore),  Odisha Coal and Power Generation Corporation ( Rs 280.94 lakh) and Watco ( Rs 34.36 lakh upto March 31, 2019).

On the other hand, 24 PSUs are running on profit. The highest profit making corporation is Odisha Mining Corporation (Rs 1259.59 crore profit before tax).  The other profit making PSUs are: Odisha Agro Industries Corporation, Odisha Seeds Corporation, Odisha State Cashew Development Corporation, Agricultural Promotion and Investment Corporation Limited (APICOL), Odisha IDCOL Software Limited, Odisha Forest Development Corporation, Odisha Construction Corporation, Odisha Bridge Construction Corporation, Odisha Tourism Development Corporation, Odisha Power Generation Corporation, Odisha Hydro Power Corporation, Odisha Power Transmission Corporation Limited, Odisha Industries Promotion and Investment Corporation Limited (IPICOL), Odisha Police Housing and Welfare Corporation, Odisha Small Industries Corporation,  Odisha Film Development Corporation,  Odisha Lift Irrigation Corporation, Odisha State Beverage Corporation,  IDCOL Ferrochrome and Alloys Limited, Odisha Fishderies Development Corporation, Odisha State Road Transport Corporation, Odisha Industrial Infrastructure Development Corporation, Odisha State Medicine  Corporation and , Jemstone Development Corporation Limited  (Jedcol).

However, the Odisha State Civil Supplies Corporation is running on “no loss and no profit” basis, said the minister.

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