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Compliance
Punjab

Report No. 2 of 2025 Compliance Audit Report on State Public Sector Enterprises for the year ended March 2023- Government of Punjab

Date on which Report Tabled:
Mon 16 Mar, 2026
Date of sending the report to Government
Tue 15 Jul, 2025
Government Type
State
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Sector -

Overview

The State of Punjab had 49 (33 working and 16 inactive) State Public Sector Enterprises (SPSEs) as on 31 March 2023. As on 31 March 2023, the State Government investment (paid-up capital and long-term loans) in 33 working SPSEs was ₹ 49,920.25 crore. These working SPSEs registered an annual turnover of ₹ 73,542.33 crore as per their latest finalised accounts as on 30 September 2023.

In accordance with Article 151(2) 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 State Public Sector Enterprises for the year period March 2023, was forwarded to the State Government on 15 July 2025 for laying in the State Legislature. The Report was laid in the State Legislature on 16 March 2026.

This Report deals with the financial performance of Government Companies and Statutory Corporations of the Government of Punjab for the period ended March 2023. The Report contains one Subject Specific Compliance Audit paragraph on ‘Integrated Power Development Scheme in Punjab State Power Corporation Limited’ and eight Audit paragraphs arising out of compliance audit of SPSEs involving total financial implications of ₹ 250.32 crore. The Report comprises of six chapters.

Chapter-I contains the authority for audit, accountability framework, role of the Government and the Legislature, investment by the State Government in SPSEs, submission of accounts by SPSEs, response of Auditee/Government to draft audit observations and follow-up action on Audit Reports.

Chapter-II deals with the financial performance of SPSEs on the basis of their latest finalised accounts as on 30 September 2023.

Chapter-III contains audit findings related to submission of accounts by SPSEs and results of audit thereof by the CAG.

Chapter-IV contains review of Corporate Governance provisions in 29 working Government Companies under the administrative control of various Departments of State Government.

Chapter-V comprises of Subject Specific Compliance Audit on Integrated Power Development Scheme in Punjab State Power Corporation Limited.

Chapter-VI discusses compliance audit observations highlighting deficiencies in management of SPSEs, which had significant financial implications.

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