Kerala - Thiruvananthapuram   

Assembly fails to get annual reports of PSUs

THIRUVANANTHAPURAM: Most public sector undertakings (PSUs) have defaulted on submission of annual reports and accounts to the government and the legislative Assembly, according to the Legislature Committee for Papers tabled in the Assembly.

Rules require the public sector units to complete their audits within six months after the closure of the financial year and submit their annual reports.

The committee has asked the Chief Secretary and heads of departments to ensure that the reports were tabled in the Assembly in time.

According to data furnished to the committee, the annual report of the Kerala State Wood Industries is in arrears for 16 years.

The Kerala Soaps and Oils Limited, Kerala State Coconut Development Corporation and the State Development Corporation for Christians Converts from Scheduled Castes and the Recommended Communities had not submitted their reports for 13 years.

The State Women’s Development Corporation had defaulted submission of reports for 11 years.

While the Kerala Salicylates and Chemicals Limited and State Drugs and Pharmaceuticals Limited have not prepared annual reports for the last 10 years, the State Pollution Control Board is behind by eight years.

Besides, reports of six other companies are in arrears for five years. In most of these cases, the companies have become sick.

The Kerala State Housing Board and State Film Development Corporation are among the 10 companies, which have not submitted their reports for five years.

The Cochin University of Science and Technology, University of Kerala, Sree Sankaracharya University of Sanskrit and 10 other institutions have not prepared their annual accounts or annual reports for four years.

The committee said in its latest report that only 41 public sector companies and institutions had submitted their reports for 2005-06. As many as 80 companies and institutions were one to three years behind.

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