loss making ONGC, Air India, BSNL may shut down

[Soumitra]

Since when ONGC become a loss making unit ?

5 people have been appointed to do the job of one. Check their balance sheet over decades. It's a money pit. The only asset is their holdings in for in foriegn oil fields, but private firms are doing a better job.

Employees are paid EVEN FOR Toilet Paper ! It was bound to happen.

I think I know ONGC better than any other person in PDF. My father retired from there after more than 35 years service so I have seen ONGC from the inside.

It is a Navaratna company. contributing greatly to the nation in its quest for energy security. It is NOT loss making like Air India and the employees are not just sitting in AC cabins enjoying free taxpayer's money. ONGCians work far out in the sea in the oil fields of Bombay High, or deep in the remote jungles of Assam.

You think they are paid high salaries and perks? Do you know companies like Reliance and shell are ready to snap up these employees at double the salary

Some PSUs may be loss making and shold be sold but to count ONGC in this is a big mistake

 

[pursuit of happiness]

I think I know ONGC better than any other person in PDF. My father retired from there after more than 35 years service so I have seen ONGC from the inside.

It is a Navaratna company. contributing greatly to the nation in its quest for energy security. It is NOT loss making like Air India and the employees are not just sitting in AC cabins enjoying free taxpayer's money. ONGCians work far out in the sea in the oil fields of Bombay High, or deep in the remote jungles of Assam.

You think they are paid high salaries and perks? Do you know companies like Reliance and shell are ready to snap up these employees at double the salary

Some PSUs may be loss making and shold be sold but to count ONGC in this is a big mistake

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could not agree more..
ONGC cant be sold..
its jsut disvestment tup to 5 %
Disinvestment in Coal India, ONGC, NHPC to fetch record Rs 45,000 crore - The Times of India
TNN | Sep 11, 2014, 04.04AM IST

 

[acid rain]

I think I know ONGC better than any other person in PDF. My father retired from there after more than 35 years service so I have seen ONGC from the inside.

It is a Navaratna company. contributing greatly to the nation in its quest for energy security. It is NOT loss making like Air India and the employees are not just sitting in AC cabins enjoying free taxpayer's money. ONGCians work far out in the sea in the oil fields of Bombay High, or deep in the remote jungles of Assam.

You think they are paid high salaries and perks? Do you know companies like Reliance and shell are ready to snap up these employees at double the salary

Some PSUs may be loss making and shold be sold but to count ONGC in this is a big mistake

ONGC - i doubt it will be sold.
HAL came 4th this year among psu's.

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let me give one inside news..
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HAL
nothing to go backward ...
rafel and fgfa only made by HAl..
even L&T veteran of engineering cant handle rafel projects ....
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indin post..
its decion by RBI not by GOI


--
he ..
it defence forumm...
not many from HAL on same forum ..
-
patriotism is goood
over patrioistam .. not good idea
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just be careful....
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technology can be used for ALL REASON with TARGETING RIGHT PEOPLE for RIGHT INFO

Lol dude

 

[acid rain]

@Nova2

How can India corporatize its major ports

 

[Nova2]

No, those that have enjoyed years of public sector can't 'breath easy' under private management!

They have no other choice,its like take it or leave it. And the sad part of working in private firm for'em is they are always in a dilema that if they dont work harder they could be sacked any moment. Positive is,they are paid way better than what they got while working in a PSU.

@Nova2

How can India corporatize its major ports

Most of the govt ports like JNPT are under expansion i guess,but there not much communication among themselves in terms of dometic cargo movements,i guess it would be better if govt would do away with central tariff . Berthing of heavy carriers is a major issues aswell,as most of'em need 12m-15m dept at the port,hope its solved sonner than later.

 

[Kloitra]

They have no other choice,its like take it or leave it. And the sad part of working in private firm for'em is they are always in a dilema that if they dont work harder they could be sacked any moment. Positive is,they are paid way better than what they got while working in a PSU.

That's not sad. That's how majority works.

 

[Nova2]

That's not sad. That's how majority works.

But not most of the people working in the govt sector which is what i was refering to,no argument private sector is the most efficient one atleast in India's case.there's an urgent need to bring in labour law reforms at the earliest.

 

[Manindra]

Well, in any case it's government ownership. Subsidies come from Government.

Government never paid on time and some time short payment made by government

 

[surya kiran]

As I said. To give freebies like remote mobile service and cover non profit routes one does not need lakhs of employees. A small portion of charge can be paid extra as subsidy to performing private entities.

Ongc videsh has some assets but nothing close to what private firms hold. The Vietnam deal hasn't generated one dollar from investments of millions. It might be great for FP. But we are not a rich country to waste billions on millions of useless staff who are non productive.
The plane fiasco is just one aspect. Do you the level of corruption that goes on in these PSUs? You don't have an idea how corrupt each and every staff in those companies are.

Couple of things...

1. ONGC is a profitable entity.
2. Its in the exploration business. ONGC Videsh is a part of ONGC, a separate entity for international exploration. Hence, size will be small.

As I said. To give freebies like remote mobile service and cover non profit routes one does not need lakhs of employees. A small portion of charge can be paid extra as subsidy to performing private entities.

Ongc videsh has some assets but nothing close to what private firms hold. The Vietnam deal hasn't generated one dollar from investments of millions. It might be great for FP. But we are not a rich country to waste billions on millions of useless staff who are non productive.
The plane fiasco is just one aspect. Do you the level of corruption that goes on in these PSUs? You don't have an idea how corrupt each and every staff in those companies are.

Couple of things...

1. ONGC is a profitable entity.
2. Its in the exploration business. ONGC Videsh is a part of ONGC, a separate entity for international exploration. Hence, size will be small.

I think it is best to sell when it is making some kind of profit. Pakistan is doing same with OGDCL, which has a mammoth revenue stream and number of oil/gas fields, but i makes sense to sell them now rather than wait for shyt to happen like PIA/Air India

ONGC is the wrong company to sell. The GoI should get out of airlines and obsolete business like watches.

BSNL needs to be privatised or turned around. Its a lazy and non competitive firm as of date. The advantage the have is of laid down fiber. Their inability to respond to market demands has made them lose potential customers to private players. The problem arises from the fact, that, private players do not go into rural India the same way BSNL can or does. So its a catch 22 with BSNL.

 

[Donatello]

Couple of things...

1. ONGC is a profitable entity.
2. Its in the exploration business. ONGC Videsh is a part of ONGC, a separate entity for international exploration. Hence, size will be small.



Couple of things...

1. ONGC is a profitable entity.
2. Its in the exploration business. ONGC Videsh is a part of ONGC, a separate entity for international exploration. Hence, size will be small.


ONGC is the wrong company to sell. The GoI should get out of airlines and obsolete business like watches.

BSNL needs to be privatised or turned around. Its a lazy and non competitive firm as of date. The advantage the have is of laid down fiber. Their inability to respond to market demands has made them lose potential customers to private players. The problem arises from the fact, that, private players do not go into rural India the same way BSNL can or does. So its a catch 22 with BSNL.

Similar thing happened with PTCL in Pakistan. After it got privatized, they did up their game. Same with Karachi's electric utility, KESC, which is now privatized somewhat and much better performance wise. No blackouts what so ever.

But the point is, Government shouldn't sell ONGC completely, but rather a specific share. It is better to off load now, than future when they may not be profitable.

PIA in Pakistan was one of the world's best airlines, profit making machine and routinely topped the Top 10 airline charts. Now it's just plain BS. Should have been better to sell it off when it was making profits. Now with huge losses, no one wants to buy it.

 

[Screambowl]

The fate of some Public Sector Undertakings (PSUs) in India hangs in balance as government officials discuss proposals to shut down some loss-making state-owned companies.

Some of these PSUs, including Air India, BSNL, ONGC, SAIL, Hindustan Photofilms, Hindustan Fertilisers Corporation and HMT have been consistently bleeding cash and have survived only on budgetary allocations.

Govt May Shut Down Loss-Making PSUs Like ONGC, Air India and BSNL

LOLWA

this is crap. ONGC, AIR India, BSNL, don't know how to advertize that's the only problem.