OMC failed to achieve targets, lost opportunity to earn Rs 18.39 bn: CAG

The CAG report goes on to say that OMC could not achieve its own target of production of iron ore in any of the five years ending March 31, 2017

The Office of the Comptroller & Auditor General of India (CAG) has rapped state-owned Odisha Mining Corporation (OMC) for failing to achieve the production targets of iron ore and chrome ore during 2012-17.

As OMC failed to achieve the targets, it resulted in a shortfall of 11.4 million tonnes of iron ore and 270,000 tonnes of chromite ore during the period. OMC lost the opportunity to earn revenue of Rs 18.38 billion, the central auditor observed in its report on Public Sector Undertakings for the year ended March 2017.

The state government in its reply to the performance audit said that the