65 PSUs in TN record turnover of Rs 87,083crore, says CAG report

Chennai:

Sixty five Public Sector Units in Tamil Nadu registered a turnover of Rs 87,083.36 crore, which is equal to 8.92pc of state's Gross Domestic Product, according to the report of Comptroller and Auditor General.

The report also said that of the 65 PSUs, 41 PSUs earned a profit of Rs 1,979.79 crore and 20 PSUs incurred a loss of Rs 16,833.24 crore. Heavy losses were incurred by Tamil Nadu Generation and Distribution Corporation Limited (13,985.03 crore) and all state transport corporations (Rs 2,654crore).

    The report also said that there are seven non-working PSUs including one under liquidation. the report also hit at quality of accounting in PSUs. During the year, out of 57 accounts finalised, the statutory auditors of government companies gave unqualified certificates for 29 accounts, qualified certificates for 27 accounts and adverse opinion in respect of one account. There were 52 instances of non-compliance with accounting standards.