CAG reports placed in Odisha House

Odisha Channel Bureau Bhubaneswar, June 23: The audit reports of the Comptroller and Auditor General of India on the audited accounts of the Odisha Government for the year ended March 2013 were placed in the State Assembly on Monday afternoon.The reports, in three volumes – State finances, public sector undertakings and general and social sector – were placed in the House as done annually.Briefing journalists after the reports were submitted in the Assembly, Accountant General Amar Patnaik said that Odisha Government did not have single agency to monitor utilization of Central funds received under various heads. According to the report, as on March 31, 2013, Odisha had 37 working public sector undertakings (PSUs) and 28 non-working PSUs.Of the 28 non-working PSUs (all Companies), 17 PSUs were under liquidation process.“Non-working PSUs are required to be closed down as their continuance is a cost to exchequer with no purpose.During 2012-13 three non-working PSUs incurred an expenditure of Rs.0.22 crore towards establishment expenditure, salary etc.Such expenditure was financed by State Government by way of grants.”As regards the details of closure stages in respect of non-working PSUs, the CAG said that while 10 companies were under liquidation by Court, seven were winding up voluntarily, and liquidation process not yet started for 11 PSUs though closing orders were issued.“Companies which have taken the route of winding up by Court orders are under liquidation for a period ranging from 6 to 21 years.Process of voluntary winding up under the Companies Act is faster and needs to be adopted/pursued vigorously,” the CAG said.Government may take an early decision regarding winding up of 11 non-working PSUs and expedite the liquidation process, CAG recommended in its report.