15 PSUs of Gujarat made loss of Rs 2540 crore in last three years according to CAG Audit report of 2008-09.
The highest loss was registered by Gujarat State Finance Corporation. This PSU has been shut down and now works only for recovery. The second most loss making PSU is Gujarat Energy Development Authority(GEDA) with Rs 624.24 crore loss. Both these PSUs were last audited in year 2006-07.
In year 2006-07, Gujarat State Land Development Corporation Ltd registered loss of Rs 98.40 crore, GIDC Limited 215.24 crore, Handicraft and hand loom development corporation ltd Rs 46.91 crore, Small Industries Corporation Ltd Rs 74.93 crore, Gujarat Trans Receivers Ltd Rs 6.04 crore. Thus the total loss of Gujarat govt PSUs in year 2006-07 was Rs 441.52 crore.
In year 2007-08, Gujarat Minority Finance and Development Corporation registered Rs 7.14 crore loss, Infrastructure Finance Company Gujarat Ltd Rs 1.03 crore, Gujarat Energy Development Authority Rs 624.24 crore, Gujarat Tourism Corporation Ltd Rs 5.81 crore, Gujarat Water Resources Development Corporation Rs 24.20 crore, Gujarat State Finance Corporation Rs 1301.27 crore. Thus the total loss of Gujarat govt run PSUs in year 2007-08 was Rs 1963.69 crore.
In year 2008-09 Gujarat Rural Development Corporation incurred losses of Rs 2.98 crore, Gujarat Water Infrastructure Limited Rs 10.15 crore, Gujarat Dairy Development Corporation Ltd Rs 119.96 crore, Gujarat state machine tools ltd Rs 2.3 crore. Thus the total loss incurred was Rs 135.39 crore.