Govt mulls autonomy to profit-making PSUs : Minister

Kochi, Jun 20 (UNI) Kerala Industries Minister Elamaram Kareem today said his government was planning to grant autonomous status to certain profit-making state PSUs.

Addressing a gathering at the 'Trade Union Leaders Meet' organised by the Public Sector Restructuring&Internal Audit Board and Department of Industries &Commerce here, he said ''the autonomous status would be given to the profit-making PSUs to avoid inordinate delay in sanctioning of projects funded by them.'' He said the government would support the PSUs until they attain the capability to compete with private companies in the market.

The Government would also try to take loans at reduced interest rate from agencies for retructuring the loss-making PSUs, he said.

Speaking on the occasion, State Planning Board Vice-Chariman Prabath Patnaik said the PSUs had a pivotal role to play in strenghtening the nation's economic structure.

'' When private companies are accountable to the shareholders, the PSUs are answerable to the society and public,'' he said.

In this globalised era, ceratin vested interests were trying to demean the status of PSUs, but they have an imporatnt role to play in the development of the country, Mr Patnaik noted.

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