Guwahati: The state public sector undertakings of Assam have acquired accumulated losses of an overwhelming Rs 1,091.09 crore at the end of the last fiscal, according to a report by the Comptroller and Auditor General (CAG) of India.
The CAG, which submitted its report in the Assam Assembly last week, said the losses were mostly caused by deficiencies in management and other operational factors and required better management.
However, the CAG noted, the accumulated losses’ let-down from Rs 6,465.55 crore in 2005-06 to Rs 1,091.09 crore in 2011-12. Still, the auditor said that almost Rs 1,700 crore constituted ‘controllable’ losses.
The reports said that “The losses of PSUs were mainly attributable to deficiencies in financial management, planning, implementation of the project, running their operations and monitoring.”
Calling for better management of the PSUs, the CAG said such organizations involve a more professional approach.