BSNL, Air India, MTNL highest loss-making PSUs in 2018-19; ONGC most profitable: Survey
New Delhi, Feb 10: ONGC, Indian Oil Corporation and NTPC were the top three profitable PSUs in 2018-19, whereas BSNL(Bharat Sanchar Nigam Limited), Air India and MTNL(Mahanagar Telephone Nigam Limited) incurred highest losses for a third consecutive year, according to a survey tabled in Parliament on Monday.
The Public Enterprises Survey 2018-19, which maps the annual financial performance of all central PSUs, revealed that the top 10 companies in the red claimed a whopping 94.04 per cent of the total losses made by all the 70 loss making CPSEs during the year.
The top three profit making PSUs including Oil and Natural Gas Corporation (ONGC), Indian Oil Corporation and NTPC contributed 15.3 per cent, 9.68 per cent and 6.73 per cent, respectively to the total profit earned by all profitable CPSEs.
State Trading Corporation of India, MSTC and Chennai Petroleum Corporation which were profit making CPSEs in 2017-18, incurred losses in 2018-19 and also feature among the top ten loss- making firms, the survey found.
Total income of all CPSEs during 2018-19 stood at Rs 24,40,748 crore compared to Rs 20,32,001 crore in 2017-18, showing a growth of 20.12 per cent.
The contribution of CPSEs to the central exchequer by way of excise duty, customs duty, GST, corporate tax, interest on central government loans, dividend and other duties and taxes stood at Rs 3,68,803 crore in 2018-19 as against Rs 3,52,361 crore in 2017-18, showing an increase of 4.67 per cent.
The Department of Public Enterprises (DPE), Ministry of Heavy Industries & Public Enterprises, brings out the Public Sector Enterprises Survey on the performance of central public sector enterprises (CPSEs) every year.
As per the survey, there were total 348 CPSEs as on March 31, 2019 out of which 249 were operational. The remaining 86 were under construction and 13 were under closure or liquidation.
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What is Iran’s 10-point plan? Key demands ahead of US talks in Islamabad
Tehran/Islamabad: Iran has outlined a 10-point plan as the basis for upcoming talks with the United States, expected to begin in Islamabad on April 11, according to a statement from the Iranian Supreme National Security Council.
The plan lays out Tehran’s key political, military and economic demands, and is being seen as a framework for negotiations following the recent escalation in the region.
Strait of Hormuz at the centre
A major focus of the plan is the Strait of Hormuz, a critical global shipping route. Iran has proposed “controlled passage through the Strait of Hormuz in coordination with the Iranian armed forces,” which it says would give the country a unique economic and geopolitical position.
The plan also calls for the “establishment of a safe transit protocol” in the Strait that would guarantee Iran’s dominance under an agreed mechanism.
Call to end conflict
Iran has demanded “the necessity of ending the war against all elements of the axis of resistance,” signalling its expectation that hostilities should stop not only in Iran but also involving allied groups in the region.
US troop withdrawal
Another key demand is the “withdrawal of US combat forces from all bases and deployment points in the region,” indicating Tehran’s long-standing position against American military presence in West Asia.
Sanctions relief and compensation
The plan places strong emphasis on economic measures. It calls for “full payment of Iran’s damages according to estimates,” along with “the lifting of all primary and secondary sanctions and resolutions of the Board of Governors and the Security Council.”
It also seeks “the release of all Iranian assets and properties frozen abroad,” which have been a major point of contention for years.
Binding global guarantee
Finally, Iran has demanded that all these terms be formally recognised through “a binding Security Council resolution,” suggesting it wants international legal backing to ensure enforcement.
What this means
The 10-point plan reflects Iran’s broader push for security guarantees, economic relief and regional influence. The upcoming talks in Islamabad are expected to test how far both sides are willing to negotiate on these demands.
