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Mamata to review State PSUs' performance

KOLKATA: Chief Minister Mamata Banerjee will review the performance of State-controlled public sector enterprises, Industry Minister Partha Chatterjee has said. He also alleged that the DFID funds which were earmarked for restructuring these PSUs were not utilised properly by the previous government.

Talking to reporters after a meeting with the top brass of 13 such companies, many of which are ailing, he said he will prepare a status report on these companies and submit it to the Chief Minister. “She will review the performance, but we are not contemplating any restructuring of the manpower,” he said.

He also said that the emphasis would be on increasing production, productivity and cash flow.

Mr. Chatterjee mentioned in this context that the 12 managing directors and a director-in-charge who came to meet him had also said that they have substantial unpaid bills with the various government agencies.

There are 57 public enterprises under various departments like engineering, energy, pharmaceuticals, textiles, trading, manufacturing, chemicals, and transport. They employed 74.493 people as on March-end, 2009. While some were profit-making, most were not, with the net loss working out to Rs.142.9 crore on an investment of Rs.27,025 crore.

A British aid agency has been funding the restructuring programme and in the first phase, the restructuring involved closure of unviable units, restructuring under government ownership and formation of joint venture.

A degree of success has been achieved although some restructured unit are still losing money.

In the second phase, some more units were taken up under the DFID programme.

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