Expressing concern over the loss-making Public Sector Undertakings (PSUs) turning into white elephants, chief coordinator of Citizen Action Party Ganesh Rai on August 27 called for their reforms.
“Instead of adding to the development and economic progress in Sikkim, the PSUs have been suffering losses and are heavily indebted. The citizens have to be made aware of the economic status,” said Rai.
Highlighting the audited accounts, he said the Public Sector Undertakings were turning into white elephants for Sikkim.
“The total paid up capital of 16 working PSUs is Rs 3713.39 crores and accumulated losses are Rs 2266.61 crores. The PSUs also have outstanding loan amounting to Rs 13468.47 crores, till 2019-20 since establishment,” Rai said.
Calling for reforms of the PSUs, Rai has suggested the government take a look at the economy before giving away things free of cost.