Govt to formulate projects for revival of sick PSUs:Minister

Thiruvananthapuram, June 30 (UNI) Kerala Industries Minister Elamaram Kareem told the State Assembly today that the Government would formulate projects for the revival of sick Public Sector Undertakings (PSUs) in the State.

Replying to questions by Mr Alphonse Kannamthanam (IND) and others, he said the Government would examine each and every sick PSUs on unit basis and steps would be taken to revive them on priority basis.

Mr Kareem said currently there was no criteria in appointing Chief Executive Officers in the PSUs and the Government was intending to change the system by constituting a separate Board for the purpose.

The Government would never hand over the properties of sick PSUs to individuals, the Industries Minister said adding that the properties would be handed only to other PSUs or attracting new investors.

Admitting that technology in the PSUs was outdated, he said the Government would take steps to develop the technologies with the help of technical experters in this field from the State.

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