Orissa undertakes restructuring of PSUs

Bhubaneswar: As part of its public enterprises reform, the Orissa government has taken up the restructuring of 10 state owned companies.

Besides, privatisation of 2 more units is being pursued by the department of public enterprises (PEs). There are 32 working PSUs in the state.

The companies being restructured are Orissa Lift Irrigation Corporation (OLIC), Orissa Construction Corporation (OCC), Orissa State Financial Corporation (OSFC), Orissa Forest Development Corporation (OFDC), Orissa Agro Industries Corporation (OAIC), Orissa Cashew Development Corporation (OCDC), Orissa Bridge and Construction Corporation (OBCC), Orissa State Seeds Corporation (OSSC), Orissa State Civil Supplies Corporation (OSCSC) and Orissa Pisciculture Development Corporation (OPDC).

According to the state public enterprises minister, K V Singhdeo, the government has approved the recast plans for OLIC and OCC. The implementation of the plan for both the units is in progress. Similarly the recast plan for the OSFC has been okayed by the government and manpower and organisational restructuring is going on in that organization.

In OFDC, the voluntary retirement scheme (VRS) is under implementation to right size the manpower of the corporation. The government has formed a high power committee (HPC) headed by the development commissioner (DC) to oversee the implementation of the restructuring plan.

He said, terminal benefit has been provided to 206 employees of Orissa Agro Industries Corporation (OAIC).The draft cabinet memorandum has been concurred in by the department of PEs. It will be placed before the cabinet by the respective administrative department.

While VRS benefits were given to 132 employees of Cashew Development Corporation, the terms of reference (ToR) on value addition of raw cashew has been shared with the corporation. The due diligence has been completed and the re-structuring plan has been finalised. Restructuring plan of Orissa Bridge and Construction Corporation is being finalised.

The draft cabinet memorandum prepared by the Seeds Corporation will be placed before the cabinet for approval after discussion with the line departments. The restructuring plan for Orissa State Civil Supplies Corporation and Orissa Pisciculture Development Corporation is under preparation.

Besides, the state government has embarked on privatisation of two state owned enterprises. Stating that 33 employees of Kalinga Studios Limited (KSL) have been retrenched under the provisions of Industrial Disputes act, the minister said, the studio will be given on a long term lease to private parties. The privatisation of Konark Jute Limited is being done under the supervision of company court, the minister said.