JAMMU, Apr 8: The Comptroller and Auditor General (CAG) has flagged a significant backlog in the finalisation of accounts of Public Sector Undertakings (PSUs) and autonomous bodies in Jammu and Kashmir, with a large number of accounts still pending as of March 31, 2024.
The CAG urged the Union Territory (UT) government to strictly adhere to timelines for the preparation and submission of accounts, emphasizing that timely reporting is crucial for financial discipline, transparency, and good governance.
The audit panel warned that persistent delays undermine legislative oversight and recommended that companies, corporations, and autonomous bodies submit their annual accounts within stipulated deadlines.
According to the CAG report on UT finances for the year ended March 31, 2024, “Accounts in respect of only four companies were audited up to 2022-23. In respect of 35 companies and corporations, audits of 139 accounts were in arrears for periods ranging from one to twelve years.” The report added that eight autonomous bodies collectively failed to submit 40 annual accounts, with delays ranging from three to 14 years.
Delays in finalising accounts keep the results of government investments outside legislative scrutiny, hampering timely corrective measures and weakening accountability, the CAG stressed.
Top Defaulters Among PSUs:
- Jammu and Kashmir Overseas Employment Corporation Ltd – 12 pending accounts since 2010-11.
- Jammu and Kashmir Minerals Ltd – 9 years of arrears.
- Jammu and Kashmir International Trade Centre Corporation Ltd – 9 years of arrears.
- Jammu and Kashmir Road Development Corporation Ltd – 9 years of arrears.
- Jammu and Kashmir Cable Car Corporation Ltd – 8 pending accounts since 2014-15.
- Jammu and Kashmir Medical Supplies Corporation Ltd – 7 pending accounts since 2015-16.
- Jammu and Kashmir Police Housing Corporation Ltd – 6 years of arrears.
- Jammu and Kashmir Asset Reconstruction Ltd – 6 accounts pending since 2017-18.
- Jammu and Kashmir Power Development Corporation Ltd – 5 accounts pending since 2017-18.
- Jammu and Kashmir Entrepreneurship Development Institute (JKEDI) – 5 pending accounts with no submissions since 2018-19.
Several infrastructure and transport-related entities also reported delays:
- Jammu and Srinagar Mass Rapid Transit Corporations – 4 pending accounts each since 2019-20.
- Jammu and Kashmir Power Transmission Corporation Ltd, Jammu and Kashmir Power Corporation Ltd, Srinagar Smart City Ltd – 4 pending accounts each.
- Jammu Smart City Ltd, Jammu and Kashmir Forest Development Corporation Ltd – 3 pending accounts each.
- Jammu and Kashmir Projects Construction Corporation Ltd, Jammu and Kashmir Handicrafts (Sales and Export) Development Corporation Ltd – 4 pending accounts each.
Top Defaulters Among Autonomous Bodies:
- Compensatory Afforestation Management and Planning Authority (CAMPA) – 14 pending accounts from 2009-10 to 2022-23.
- Sher-e-Kashmir University of Agricultural Sciences and Technology (SKUAST), Srinagar and Jammu – 3 pending accounts each for 2020-21 to 2022-23.
- Jammu and Kashmir Employees Provident Fund Organisation (EPFO) – 4 accounts pending from 2015-16 to 2018-19.
- Jammu and Kashmir Housing Board – 4 pending accounts.
- Khadi and Village Industries Board – 3 pending accounts.
- Building and Other Construction Workers Welfare Board – 4 pending accounts.
- State Legal Services Authority – 5 pending accounts.
The report also highlighted that accounts of the Food, Civil Supplies, and Consumer Affairs departments in both Kashmir and Jammu have remained pending for decades, with some periods dating back to the 1970s. (Agencies)
