Sick PSUs will be revived: Kareem

Thiruvananthapuram, Jun 22 (UNI) Kerala Industries Minister Elamaram Kareem today said the government had taken various steps, including arrangement of finance, capital upgradation, manpower rationalisation and redeployment to revive sick PSUs, which could make profit.

In a written reply, he told the Assembly that the loss incurred by the PSUs was determined by the data available with the Bureau of Public Enterprises (BEP) review.

Public Sector Undertakings (PSUs) in the state had incurred an accumulated loss of Rs 1,456.02 crore till March 2005, he said.

According to the Economic Review-2005, out of the 280,584 small scale units registered in the state, 133,596 had closed down during the same period.

Besides this, 16 factories under the Industries Department and 38 units in private sector, which came under the KSIDC, were also closed, Mr Kareem said.

The minister said 72 PSUs, including 12 in the Co-opertative sector were running on profit.

UNI CGV AJ VD HS1556