Committee discusses measures to revive loss-making PSUs

The Committee on Public Undertakings of the Jammu and Kashmir Legislative Assembly on Tuesday convened an introductory-cum-review meeting at the Assembly Complex in Srinagar.

The meeting was presided over by Committee chairman Ali Mohammad Sagar and attended by the members, including Ali Mohammad Dar, Baldev Raj Sharma, Mir Mohammad Fayaz, Ranbir Singh Pathania, Showkat Hussain Ganai, Said U Din Bhat and Tanvir Sadiq.

Officials said the chairman emphasised the importance of proactive participation from all members and officials in strengthening the operations and efficiency of Public Sector Undertakings (PSUs).

He highlighted the urgent need to take concrete steps for revival of loss-making corporations. He stressed the importance of robust audits and evaluations to ensure added transparency and accountability. He instructed the concerned departments to submit the status of public undertakings along with audit reports to enable informed decision-making and reforms.

“The aim of the Committee is to ensure that our public undertakings are functional, contributing to economic development and creating business and employment opportunities for the people,” said the chairman.

During the session, the Principal Accountant General informed on the audit procedures and offered recommendations to further enhance the performance of public sector corporations in Jammu and Kashmir.

Emphasis was given on holding corporation wise review meetings, while members of the committee committed to work collectively for improvement in the sector. They also gave their suggestions regarding various issues pertaining to the sector.