J&K Finance minister Haseeb Drabu asks heads to make PSUs profitable

The Jammu and Kashmir government has asked the heads of various PSUs to make the corporations more viable and turn them into pure profit earning units.

"Government is providing all necessary support in terms of financial help or administrative support, but real responsibility lies with the persons heading these units to transform them into a pure profit earning unit," Finance Minister Haseeb Drabu said reviewing the functioning of various PSUs in the state here.

The minister said there was a need for formulation of effective working plan with adoption of innovative measures for generation of revenue in a better way and to re-double efforts towards making the corporations more viable.

"The idea of calling this meeting is to understand the issues and to come up with a future plan for overall growth of these corporations," he said.

The meeting was attended by principal secretary finance Navin Kumar Choudhary, commissioner secretary industries and Commerce, Shailendra Kumar and Managing Directors of J&K Industries Limited, J&K Minerals Limited, J&K Cements Limited, J&K State Industrial Development Corporation (SIDCO) and J&K Small Scale Industries Development Corporation (SICOP), an official spokesman said today.