Kashmir Indepth

‘No decision to close down PSUs but reforms under discussion’: Commissioner Secretary, Industries & Commerce

“Except JKCL, all PSUs profitable”

Junaid Shah

Srinagar, July 18 (KINS): The Jammu and Kashmir Union territory government  on Saturday clarified that no decision has been taken for closure of public sector undertakings (PSUs) but reforms are under discussion.

Commissioner Secretary, Industries and Commerce, Manoj Kumar Dwivedi said all PSUs except Jammu and Kashmir Cement Limited (JKCL) are profitable.

“The document viral on social media is not an order issued by the government (for closure of PSUs) but an internal communication. It is an internal discussion,” he told news agency Kashmir Indepth News Service (KINS) over the phone.

“Right now, all PSUs are profitable and they are doing well. They are profitable enough to bear the monthly salaries of its employees,” he said.

 However, he said that JKCL is in loss and the discussion was going on what reforms should be taken for its revival.

“Privatization of JKCL can be a good step. But amid the pandemic, its privatization is not a good idea as of now. We are discussing reforms to make PSUs more efficient and profitable,” he said.

He added in case of need, a component from PSU can be privatized.“Discussion is an opportunity for us to see what reforms are needed,” he said. 

According to the reports the government had made a proposal to close the J&K Small Scale Industries Development Corporation (SICOP), J&K Minerals Limited and J&K Industries Limited and privatization of J&K Cements Limited.

“In January this year Principal Secretary to the Lieutenant Governor, Bipul Pathak issued a communication that the Small Industries Development Corporations (SIDCO) should manage all the industrial estates in the Union Territory to promote large, medium and small scale industries. It was advised that the SICOP should be closed and all the Industrial Estates presently managed by the SICOP should be transferred to SIDCO.

“J&K Minerals and mineral sites being managed by it, be auctioned as per norms, J&K Cement Ltd should be privatized after assessment of its assets in a transparent manner,” the reports had said.

“Similarly, the J&K Industries Ltd was advised to be closed and the industrial units run by it should be privatized/auctioned, whereas J&K Handicraft (S&E) Corporation should be merged with J&K State Handloom Development Corporation”.

The ‘proposal’ to close down four PSUs and privatization of JJKCL was not gone well among industrialists.(KINS)

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