Air India, BSNL among 43 govt-owned companies making losses for 3 yrs | business-news | Hindustan Times
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Air India, BSNL among 43 govt-owned companies making losses for 3 yrs

As many as 43 central public sector enterprises (CPSEs) including Air India ltd and BSNL have incurred losses continuously for the last three years (2013-16), Parliament was informed today.

business Updated: Mar 28, 2017 17:31 IST
PTI
Air India

Air India is one of the 43 central public sector enterprises (CPSEs) that have incurred losses for the last three consecutive years.(AP)

As many as 43 central public sector enterprises (CPSEs) including Air India ltd and BSNL have incurred losses continuously for the last three years (2013-16), Parliament was informed today.

Major reasons for losses include resource crunch, low capacity utilisation, oil plant and machinery, stiff competition, weak marketing and mismanagement.

As per the information available in the Public Enterprises Survey 2015-16, “43 CPSEs” have incurred losses continuously for the last three years (2013-16), Minister of State for Heavy Industries and Public Enterprises Babul Supriyo said in a written reply to the Lok Sabha.

The other firms that have reported losses include British India Corporation, Hindustan Anti biotics, HMT Watches Ltd and Indian Drugs and Pharmaceuticals.

Replying to a separate question, the minister said modernisation and capacity expansion of units of HPC (Hindustan Paper Corporation) - Cachar Paper Mill and Nagaon Paper Mill in Assam has nor yet been taken as yet.

He also said that there are allegations of rampant corruption in purchasing of bamboos.

“A complaint was received through Central Vigilance Commission regarding alleged irregularities in the procurement of bamboos. The case has been forwarded to CBI to inquire the matter comprehensively,” he added.