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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. The performance of the Raw Material Depots from 1.4.2018 to 28.02.2019 is given below :-
    Sr. No. Material Achievements (Mts.)
    1. Iron and Steel 33876

    Handling Agency:

    Corporation is acting a Handling Agent of Steel Authority of India Ltd. at Ludhiana & Mandi-Gobindgarh and of Hindustan Zinc Ltd. at Jalandhar from where the producers distribute Iron & Steel and Zinc to their customers. The performance of the Handling Agencies from 01.04.2019 to 28.02.2019 is given as below:-
    Sr. No. Agency material Handled in Mts
    1. SAIL, Mandi-Gobindgarh 84358
    2. SAIL, Dhandari-Kalan 111028
    3. HZL, Suranussi (Jalandhar) 10864