SrinagarThere seems no end of public sector undertaking losses in Jammu and Kashmir with mostly of them even failing to pay salaries to employees.
There are 19 public sector undertakings in the state under the administrative control of various departments. Most have become a burden on the state exchequer.
According to official figures available with KNS, seven PSUs are being provided budgetary support by the state government to meet their wage bills as they failed to pay salaries to employees.
J&K State Handloom Development Corporation was established in 1981 to assist handloom weavers societies and SSI units in the handloom sector.
However, it has been continuously running into losses.
During 2013-2014, the Corporation witnessed around Rs 9 crore losses while the loss level increased to Rs 14 crore during 2016-2017. In the current fiscal, it faced around Rs 3.6 crore in the first seven months.
The State Road Transport Corporation is also running into losses, which has become a liability on the state government. It has suffered over Rs 150 crore losses over the years and its most assets are lying defunct for the last five years.
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