Compliance Performance
Punjab

Report No. 2 of 2020 - PSUs (Social, General and Economic Sectors) Government of Punjab

Date on which Report Tabled:
Fri 05 Mar, 2021
Date of sending the report to Government
Thu 07 Jan, 2021
Government Type
State
Sector Industry and Commerce,Agriculture and Rural Development,Power & Energy

Overview

In accordance with Article 151 of the Constitution of India and Section 19-A of the Comptroller and Auditor General’s (Duties, Powers and Conditions of Service) Act, 1971, the Report of the Comptroller and Auditor General of India on Public Sector Under (Social, General and Economic Sectors) for the year ended 31 March 2019 - Government of Punjab, was forwarded to the State Government on 7th January 2021 for laying in the State Legislature. The Report was laid in the State Legislature on 5th March 2021.

The State of Punjab had 33 working PSUs (29 companies and four Statutory corporations) and 19 inactive companies. As on 31 March 2019, the Government investment (paid-up capital, long-term loans and grant/subsidy) in 52 PSUs was ₹ 1,04,181.06 crore. The State Government contributed ₹ 88,418.57 crore towards equity, loans and grants/subsidies in these PSUs. The working PSUs registered an annual turnover of ₹ 72,923.70 crore as per their latest finalised accounts as on 30 September 2019.

This Report contains 14 paragraphs and one performance audit i.e. “Assessment of activities of Punjab Small Industries and Export Corporation Limited” involving financial effect of ₹ 1,226.91 crore. The Report comprises of five Chapters. Chapter-I discusses the financial profile of the Power Sector Undertakings of the State and follow-up action on Audit Reports. Chapter-II contains Compliance audit observations which highlight deficiencies in the management of State Government Companies of power sector. Chapter-III discusses the financial profile of the State Public Sector Undertakings (other than Power Sector) of the State and follow-up action on Audit Reports. Chapter-IV deals with findings of performance audit of the Working of Punjab State Bus Stand Management Company Limited for the period 2013-18. Chapter-V contains Compliance audit observations highlighting deficiencies in the management of State Government Companies and Statutory Corporation of non-power sector.

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