24 of 44 public sector undertakings in J&K loss-making, four non-functional: govt to Assembly

Out of the 44 public sector undertakings in Jammu and Kashmir, 24 are making losses and four are non-functional, the Union Territory government informed the Assembly on Tuesday (February 17, 2026).

The government said it is examining ways to strengthen the sick PSUs and improve their operational and financial performance.

In a written reply to a question by legislator Javaid Riyaz, Deputy Chief Minister Surinder Kumar Choudhary said the Union Territory has 10 profit-making PSUs, 24 loss-making PSUs, four non-functional PSUs, two statutory corporations, and one dormant PSU.

He identified the profit-making PSUs as J-K Bank, J-K State Power Development Corporation Limited, J-K Medical Supplies Corporation Limited, J-K Cable Car Corporation Limited, J-K Women’s Development Corporation, J-K Bank Financial Services (a subsidiary of J-K Bank), J-K Police Housing Corporation, Chenab Valley Power Projects Limited (a central PSU joint venture with JKSPDC), Ratle Hydroelectric Project Corporation Limited (a central PSU joint venture with JKSPDC), and J-K Development Finance Corporation Limited (a central PSU with UT government equity).

According to the reply, the loss-making PSUs include J-K Industries Limited; J-K SC, ST and BC Development Corporation; J-K Trade Promotion Organisation; J-K Horticultural Produce Marketing and Processing Corporation; J-K Power Corporation Limited (Trading); Kashmir Power Distribution Corporation Limited; J-K Handicrafts Sales and Export Corporation; J-K State Power Transmission Company Limited; Srinagar Mass Rapid Transit Corporation, and J-K Agro Industries Development Corporation Limited.

The other loss-makers include J-K Forest Development Corporation Limited; J-K EDI Foundation; J-K State Handloom Development Corporation Limited; Jammu Power Distribution Corporation Limited; J-K SIDCO Limited; Jammu Mass Rapid Transit Corporation; J-K Tourism Development Corporation; J-K Small Scale Industries Development Corporation Limited; J-K Cements Limited; J-K Projects Construction Corporation Limited; J-K Infrastructure Development Finance Corporation Limited; Jammu Smart City Limited; Srinagar Smart City Limited and J-K Minerals Limited.

The two statutory corporations — J-K and Ladakh Finance Corporation and J-K State Road Transport Corporation — are also running in losses.

Among the non-functional PSUs, Mr. Choudhary said, are Overseas Employment Corporation; J-K Road Development Corporation, J-K Handloom and Handicrafts RMSO Limited, Tawi Scooters Limited, Himalayan Wool Combers Limited, J-K IT Infrastructure Private Limited, and International Trade Centre, J-K.

The dormant PSU is J-K Asset Reconstruction Limited.

“Strengthening and revival of sick or loss-making PSUs, including measures related to infrastructure and manpower, are being examined by the respective administrative departments to improve their operational and financial performance,” the deputy Chief Minister said.