Bengaluru: Forty public sector enterprises (PSE), including BMTC and Bescom, are worth nothing as their net worth is “completely eroded” due to accumulated losses of Rs 33,992.96 crore, the Comptroller & Auditor General (CAG) said in its report Wednesday.
The CAG’s report, tabled in the Assembly, noted that 60 out of 127 PSEs have an accumulated loss of Rs 46,814.47 crore.
“The net worth of 40 out of 60 PSEs had been completely eroded by accumulated losses and their net worth was either zero or negative,” the CAG said in its report for the fiscal that ended March 31, 2023. “The net worth of these 40 PSEs was Rs (-) 23,297.91 crore against paid up equity of Rs 10,695.05 crore,” it added.
In 19 out of 40 PSEs whose capital was eroded, the outstanding government loans as on March 31, 2023 amounted to Rs 3,231.65 crore.
