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| Beverages tie-up
costs Kerala dearly
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James
Paul
16 March 2002 |
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Kochi:
The tie-up arrangement allowed by the Kerala State Beverages
Corporation to suppliers outside the state for supply of beverages
from within the state resulted in an undue benefit of Rs 13.40 crore
to the suppliers and an additional burden of Rs 77.45 crore on the
consumers, says a Comptroller and Auditor General of India report.
 The report also says the working of 14 retail
shops of the company from 1996-97 to 2000-01 resulted in a cash loss
of Rs 83.71 crore. Allowing prices higher than the quoted rates in
respect of 17 brands of Indian-made foreign liquor to 13 suppliers
during 2000-01 resulted in unintended benefit of Rs 0.38 crore to the
suppliers and an additional burden of Rs. 2.21 crore on the consumers.
Unnecessary retention of the excise staff even
after the abolition of the bonded warehouse system with effect from 1
April 1999 resulted in an avoidable expenditure of Rs 1.39 crore for
the period up to 31 March 2001, the report says.
The inept management of funds resulted in
unnecessary availing of loans against term deposits and an avoidable
payment of interest to the extent of Rs 1.67 crore from 1997-98 to
1999-2000.
Government companies: According
to the finalised accounts, 36 working companies out of the total of
104 government companies (91 working companies and 13 non-working
companies) and two working statutory corporations earned an aggregate
profit of Rs 196.10 crore and Rs 44.45 crore, respectively, whereas 52
working companies and three statutory corporations sustained an
aggregate loss of Rs 145.52 crore and Rs 148.06 crore, respectively.
Of the nine companies that earned an aggregate
profit of Rs 23.14 crore, only eight companies declared dividend,
aggregating Rs 2.25 crore - this works out to 0.2 per cent on the
total equity investment of Rs 1341.10 crore by the government in all
working companies.
Of the 52 loss-incurring working companies, 36 companies had
accumulated losses aggregating to Rs 1124.41 crore, far exceeding
their aggregate paid-up capital of Rs 408.71 crore. Despite this, the
state government provided financial support of Rs 68.87 crore by way
of equity, loans, conversion of loans into equity, subsidy and grants
to 14 companies during 2000-01, says the report.
 Kerala State Electricity Board: Procurement
of all aluminium conductors, exclusively from local SSI units at
higher rates when compared to the rate of SSI units outside the state,
resulted in an extra expenditure of Rs 5.42 crore for the KSEB, says
the report.
A prolonged storage of transformers at the site
resulted in idling of funds
worth Rs 6.75 crore, and a resultant loss of interest of Rs 5.42 crore.
As many as 2,607 items of store, valued at Rs 3.10 crore, were lying
idle in four stores without issue since 1989-90.
Avoidable procurement of huge quantities of tower parts resulted in
blocking up Rs 11.95 crore and an interest loss of Rs 8.33 crore.
Forty-seven items, valued at Rs 15.71 crore, which were procured for
various schemes under the World Bank Project, were not used at all,
resulting in an interest loss of Rs 11.46 crore.
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