54 PSUs reported combined loss of Rs 14,424 cr
Fifty four public sector companies, including Air India, Eastern Coalfields, Bharat Coking Coal Limited and Scooters India, have posted a combined loss of Rs 14,424 crore in 2008-09, Parliament was informed today. Among these, Air India (formerly National Aviation Company of India Ltd) incurred a loss of Rs 5,548.26 crore in 2008-09, followed by Eastern Coalfields, whose loss was at Rs 2,109.09 crore during the period, Minister of State for Heavy Industries and Public Enterprises A Sai Prathap told Rajya Sabha in a written reply.
He added that Bharat Coking Coal Ltd, the largest domestic coking coal producer, posted a net loss of Rs 1,380.47 crore in 2008-09.
Similarly, Hindustan Photo Films Manufacturing Company, which is engaged in the manufacturing of photo sensitive goods like medical X-ray and graphic arts, had posted a net loss of Rs 890.26 crore during the year, Sai Prathap said.
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I personally feel that all CEOs of these PSU must be Chartered Accountant with full accountability instead of political nominations to positions of Chairman while MD are from IAS lobby to make them profitable.
Regards
CA. Ashok Aggarwal