Staff Reporter

No decision yet on the fate of 17 PSUs lying closed

  • `Thrust on modernisation and expansion next year'
  • `Products being manufactured entering a buyers' market'

    KOLLAM: Minister for Industries Elamaram Karim has said that while `revival' of public sector undertakings (PSUs) is the industrial policy of the Left Democratic Front (LDF) Government this year, in the coming year the policy will be `modernisation and expansion' of the public sector undertakings.

    He was addressing a meeting at the Kundara unit of the Kerala Electrical and Allied Engineering Company Limited (KEL) on Thursday.

    Mr. Karim said that no final decision had been taken on the fate of the 17 public sector undertakings which were lying closed. He said the KEL had to improve its performance. The Government was continuously supporting the company and the latest in this connection was the allocation of Rs.4 crore.

    From now on the company should start standing on its own, he said. The Minister wanted the workers of the public sector companies to be aware of the fact that the products they manufactured were entering the buyers market these days. The revival project for the KEL was under the consideration of the State Government. On the occasion, the Minister handed over the papers of the new alternator developed by KEL to S. Sreekumar, joint general manager of Larsen and Toubro.

    The alternators were meant for strategic equipment. President of the Kundara grama panchayat B. Sunitha presided over the function. Trade union leaders Babu Divakaran and J. Mercykutty addressed. Chairman of Managing Director of the KEL K. Shamsuddin welcomed the gathering.