Public sector plays a pivotal role in the economic growth of the country .The public sector is concerned critical engine in the growth engine of economy of any nation. Pertinently, the public sector has come to occupy a significant place in the economy of every state as solely on its effectual performance depends largely the achievement of the state’s economic and social goals.
Unfortunately , the public sector of Jammu & Kashmir state presents a unwelcoming outlook due to poor condition .
A number of factors over the decades have combined to weaken the public sector of Jammu and Kashmir Financial mismanagement, lack of vision, less innovation, ill planning, non-implementation of projects , faulty recruitment policy and other lacunas have ensured that Public sector in the state remains in a disarray .
On the otherside, masses of Jammu and Kashmir are expressing disappointment over the fact that all important public health and education sector present are in dire straits in our state . Sane voices states it is a matter of grave concern and calls for remedial measures to revamp it . The rot and inefficiency according to ground pulse is eating the vitals of our public sector.
The statistics are really gory. Comptroller and Auditor General of India’s report, which was by default presented in the Legislative Assembly and the Legislative Council at the end of the Budget session on April 5 in 2013 , had pointed out a cumulative red balance of Rs. 1,450.46 crore with the 16 PSU. J&K Power Development Corporation tops the list with the cumulative borrowing of Rs. 816.03 crore, followed by the J&K State Road Transport Corporation (SRTC) and J&K State Industrial Development Corporation Ltd who owe the State government Rs. 129.70 crore and Rs. 100.44 crore respectively.
At that time, Among the government companies, the near-defunct J&K Minerals has a liability of Rs. 74.86 crore, followed by J&K Industries Ltd (Rs. 66.62 crore), J&K State Handloom Development Corporation (Rs. 36.56 crore), J&K Handicrafts (Sales & Export) Corporation (Rs. 25.56 crore) and J&K State Women’s Development Corporation (Rs. 22.19 crore).
While on the otherhand of the spectrum, One of the leading reasons behind soaring unemployment rate in the state of Jammu& Kashmir is the poor performance of public sector in our part of the world. Currently, the public sector of the state is in quiet unhealthy shape.
Bashir Ahmad, a commoner states – “ The Public sector of Jammu and Kashmir continues to present a grim picture .Not very long ago, out of the leading seventeen state corporations in Jammu and Kashmir, ten were running on huge losses , while seven were showing profit, according to the latest official figures. Unfortunately, the PSUs of the Jammu & Kashmir state have properties worth billions of rupees at prime locations but still they are penniless and are not able to harness their rich potential so as to provide employment opportunities to youth.”
Undoubtedly, Public Sector Presents a grim picture in Jammu and Kashmir.