Report 2 of 2016 - Social, General, Economic PSUs Sectors Jammu and Kashmir

Overview

This Report contains one Performance Audit on ‘Working of Jammu and Kashmir Cements Limited’ and seven paragraphs involving a financial effect of Rs. 964.32 crore relating to doubtful

recovery of loan, avoidable extra expenditure, loss of revenue and blockade of funds, unplanned execution of power projects, non-payment of labour cess etc.

The State of Jammu and Kashmir had 23 working PSUs (20 Companies and three Statutory Corporations) and three non-working PSUs which employed 24,306 employees. Power sector

accounted for 51.42 per cent, i.e., Rs. 2727.54 crore of the total investment in 2014-15. The Government contributed Rs. 84.67 crore towards Equity, Loans and Grants/Subsidies to State PSUs

during 2014-15. As on 31 March 2015, the investment (capital and long-term loans) in 26 State PSUs and Statutory corporations was Rs. 5304.69 crore. The total investment consisted of 16.50

per cent as capital and 83.50 per cent as long-term loans. The investment has grown by 1.51 per cent from Rs. 5225.63 crore in 2010-11 to Rs. 5304.69 crore in 2014-15.

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