J&K announces measures to turn around loss-making PSUs



Jammu and Kashmir's State Administrative Council (SAC), chaired by Governor Satya Pal Malik, on Wednesday announced a number of measures to streamline procedures of public sector undertakings/autonomous bodies/societies to bring transparency, equity, economy of expenditure and financial propriety, officials said.

"It is important to point out that most of the public sector undertakings/autonomous bodies/societies in the state receive significant financial assistance from the government. However, there have been issues related to transparency, equity and economy of expenditure in the creation of posts and recruitments, which henceforth shall be made with the prior concurrence of the Finance Department," an official said.

"There have also been issues related to award of contracts by these bodies," the official added.

Following Thursday's decisions, no procurement of goods and services will be made, or any contract awarded, by the PSU and other entities aided by the state government without following a transparent bidding process. 

Also, no new posts shall be created, or any vacant posts in any PSU or such body be filled without the prior concurrence of the Finance Department.

No recruitment shall be made by any PSU/autonomous bodies/societies "without following a transparent process including inviting applications through advertisements from eligible candidates, irrespective of class of the posts," the official said, adding the the Finance Department has been directed to issue appropriate instructions to these PSUs and so on for undertaking necessary amendments in their by-laws/regulations etc as may be required.

The SAC's decisions came after the recent visit of Union Home Minister, Amit Shah to the state during which he took detailed reviews the developmental scenario as well as the working of various PSUs/autonomous bodies/societies. IANS