The Hindu Business Line : 27 Kerala PSUs earn profits in 2007-08

As many as 27 public sector undertakings (PSUs) under the Kerala Industries Department posted profits in 2007-08 as against just 12 two years ago, according to the Minister for Industries, Mr Elamaram Kareem.

In reply to questions in the State Assembly on Monday, the Minister said that nine PSUs had been continuously running in losses for the past five years and these included five cooperative spinning mills, Hantex and Kerala State Drugs and Pharmaceuticals Ltd.

The Minister said that the Government had initiated a number of measures such as rescheduling of loans, modernisation and technology upgradation and rationalisation and redeployment of manpower to make the PSUs profitable.

Besides, the system for the monthly review of the operations of the undertakings has been strengthened and training schedules introduced to enhance the efficiency of the employees.

Mutual marketing

The Government has also been encouraging cooperation among the PSUs and mutual marketing of products. As part of it, the Kerala State Electricity Board will place orders with Kerala Electrical and Allied Engineering Company, Traco Cable Company and United Electrical Company. Similarly, Kerala State and Drugs and Pharmaceuticals will supply products to the Health Department.

Mr Kareem informed the House that there were 12 PSUs in the State with more than 500 employees. The Kerala State Electronics Development Corporation (Keltron) with 2,025 employees topped the list, followed by Kerala Minerals and Metals Ltd. (1,771), Malabar Cements Ltd (1,044) and Kerala Electrical and Allied Engineering Company (993).

In reply to a question, the Minister said that the Government had signed a memorandum of understanding (MoU) with Construction Industries Development Board of Malaysia to establish a medical hub-cum-integrated industrial township in a 275-acre plot owned by the Kerala State Industrial Development Corporation (KSIDC) in Kozhikode. The project is estimated to cost around Rs 2,500 crore.

This apart, KSIDC has drawn up a slew of major projects, which include a mega power project, aqua park, life science park and an electronics hub. KSIDC is also associated with projects such as LNG terminal, GAIL gas pipeline, city gas distribution and free trade and warehousing zone.

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