logo

P S I E C

(A State Government Undertaking)

Activities of PSIEC

Punjab Small Industries & Export Corporation Ltd. (PSIEC) was set up in 1962 with a view to promote small scale industries in the State. The Corporation is involved in the following activities:-
  • Development of Infrastructure facilities.
  • Deposit works by Engineering Wing.
  • Distribution of Iron & Steel Material.
  • Marketing of products through Emporia and Marketing Division.
  • Promotion of exports.
  • Business Performance:

    PSIEC is a company registered under The Companies Act, 2013. The authorized equity capital of the company is Rs. 60 crores and the paid up equity capital base of the company is Rs. 50.01 crores. The Finance & Accounts wing mainly looks after the works of funds management, preparation and finalization of budget & final accounts of the corporation, deposit and filing returns of various applicable taxes and disbursement of salaries. The Accounts of the Corporation have been finalized upto the Financial Year 2016-17 and the Statutory Audit and Propriety Audit by the AG Audit, Punjab has also been completed. The Corporation’s turnover and profits during the last three years are as follows:-
    Year Turn Over (Rs. in Lacs) Profit/Loss (Rs. In lacs)
    2014-2015 34,598.64 (+)4,467.39
    2015-2016 40,436.04 (+)7,279.58
    2016-2017 24,042.47 (+)3,389.87

    Raw material wing activity:

    Since inception, the procurement and distribution of essential Raw materials has been the main activity of the Corporation. Steel and Pig Iron and Coal are procured from the main producers/departments like SAIL, RINL, Coal India Limited, and then distributed to SSI Units throughout the state for which the Corporation has a network of depots at Ludhiana, Jalandhar, Mohali, Batala and Amritsar. Corporation is also Nodal Agency of Govt. of Punjab for procurement and distribution of Coal to small & medium and other units. The performance of the Raw Material Depots from 1.4.2016 to 31.03.2017 is given below :-
    Sr. No. Material Achievements (Mts.)
    1. Steel 25863
    2. Coal 3727

    Handling Agency:

    The Corporation is the Nodal Agency for Government Sponsored scheme like Growth Centres, Export Promotion Industrial Parks and Integrated Infrastructure Development Centres. PSIEC Ltd. has a distribution network of raw materials across Punjab. It is the handling agency of SAIL, MMTC, IISCO, HZL, HCL. It is also First State Corporation to get itself accredited by Joint Accreditation system of Australia and New Zealand (JAS-ANZ) under ISO-9001. The performance of the Handling Agencies from 1.4.16 to 31.3.17 is given below:-
    Sr. No. Agency material Handled in Mts
    1. SAIL, Mandi-Gobindgarh 91943
    2. SAIL, Dhandari-Kalan 130918
    3. HZL, Suranussi (Jalandhar) 13434