J&K Government Informs Assembly: 24 of 44 PSUs Running Losses, Four Non-Operational

Jammu, Feb 17: The Union Territory government of Jammu and Kashmir informed the Legislative Assembly on Tuesday that out of 44 public sector undertakings (PSUs), 24 are operating at a loss, while four are currently non-functional.

Current PSU Status
Deputy Chief Minister Surinder Kumar Choudhary, responding to legislator Javaid Riyaz, provided a detailed breakdown:

Profit-making PSUs (10): J-K Bank, J-K State Power Development Corporation, J-K Medical Supplies Corporation, J-K Cable Car Corporation, J-K Women’s Development Corporation, J-K Bank Financial Services, J-K Police Housing Corporation, Chenab Valley Power Projects, Ratle Hydroelectric Project Corporation, and J-K Development Finance Corporation.

Loss-making PSUs (24): Notable examples include J-K Industries Limited, J-K Trade Promotion Organisation, Kashmir Power Distribution Corporation, J-K Handicrafts Sales and Export Corporation, Srinagar Mass Rapid Transit Corporation, Jammu Power Distribution Corporation, J-K Tourism Development Corporation, and J-K Minerals Limited.

Statutory Corporations (2, loss-making): J-K and Ladakh Finance Corporation and J-K State Road Transport Corporation.

Non-functional PSUs (4): Overseas Employment Corporation, J-K Road Development Corporation, J-K Handloom and Handicrafts RMSO Limited, Tawi Scooters Limited, Himalayan Wool Combers Limited, J-K IT Infrastructure Pvt Ltd, and International Trade Centre, J-K.

Dormant PSU (1): J-K Asset Reconstruction Limited.

Government Measures for Revival
Choudhary said that administrative departments are examining strategies to strengthen loss-making and non-operational PSUs. Efforts include improving infrastructure, manpower deployment, and operational efficiency to restore financial stability and performance.