Bhubaneswar, Aug. 4: For the first time, two of Orissa’s state-run public sector units — Orissa Mining Corporation and Orissa Hydro Power Corporation (OHPC) — will be listed on the Bombay Stock Exchange (BSE).

Orissa finance minister Prafulla Ghadei said: “These two units have been performing well for several years. The government now plans to allow them a certain degree of autonomy through delegation of power based on the financial and operational strength.”

Citing the reasons for listing the companies on the BSE, Ghadei said: “These two organisations will be able to raise funds from the market and this in turn will reduce their dependence on government funding.”

The OMC and OHPC have been placed in the “platinum category” by the state government for their outstanding performances. In the 2009-10 financial year, the OMC made a profit of Rs 71,686.68 lakh. The cumulative reserve of the OMC is pegged at Rs 3,37,994.98 lakh.

During the last financial year, OHPC made a profit of Rs 17.57 crore.

The cumulative reserve of the OHPC touched Rs 413.45 crore during the same period.

Orissa now has 32 PSUs and 24 of them are profit- making.

The loss-making ventures are — Orissa Rural Housing and Development Corporation, Orissa Pisciculture Development Corporation, Kalinga Studio Limited, Orissa Bridge and Construction Corporation, Orissa State Civil Supplies Corporation, Orissa Agro Industries Corporation, Orissa State Seeds Corporation, Orissa Construction Corporation, Orissa Small Industries Corporation, Orissa State Road Transport Corporation and Orissa State Warehousing Corporation.

In an attempt to bring professionalism in the state-run PSUs, Ghadei said: “The Department of Public Enterprises has taken steps for recruitment of professionals for top management posts through a public enterprises selection board.”

To overcome the burden of loss-making PSUs, Ghadei said: “Some of them would be merged with other viable PSUs. Voluntary Retired Scheme (VRS) will be encouraged to prune the organisations.”