Himachal Budget: Losses of public sector firms hit Rs 5,143 crore in FY23; 14 out of 23 units in red

Cumulative losses of public sector enterprises in Himachal Pradesh stood at Rs 5,143.46 crore as on March 31, 2023 and 14 out of 23 such units were in the red, according to a state government report.

The report on public sector units was tabled in the state assembly on Saturday during the presentation of the annual budget for the next financial year.

Himachal Road Transport Corporation topped the list with a loss of Rs 1,966.13 crore, followed by Himachal Pradesh State Electricity Board which lost Rs 1,823.97 crore. While HP Power Corporation registered a loss of Rs 6,89.24 crore, HP Power Transmission Corporation lost Rs 372.59 crore.

Loss of HP Himachal Financial Corporation stood at Rs 184.83 crore, HP Tourism Development Corporation recorded a loss of Rs 12,663 crore, State Forest Corporation Rs 98.21 crore and Himachal Horticulture Produce Marketing and Processing Corporation (HPMC) Rs 91.20 crore.

On the other hand, Himachal Pradesh Industrial Development Corporation was among the top profit making public sector enterprise with a profit of Rs 108.44 crore, followed by Ex-Servicemen Corporation which earned Rs 82.78 crore profit and General Industries Corporation Rs 44.37 crore.

Besides, Civil Supplies Corporation recorded a profit of Rs 28.57 crore , State Electronics Development Corporation at Rs 18.94 crore and HP State Cooperative Milk Federation at Rs 17.09 crore.

In 2021-22, the number of loss-making companies, including state boards and corporations, was 13 and total losses were Rs 4,889 crore.