PSUs must be competitive and profitable to get government protection, says Industries Minister
The Hindu
Industries Minister P. Rajeeve said here on Sunday that there would be no blanket protection for public sector undertakings (PSUs) in the State. The PSUs must prove that they were competitive and shou
Industries Minister P. Rajeeve said here on Sunday that there would be no blanket protection for public sector undertakings (PSUs) in the State.
The PSUs must prove that they were competitive and should run profitably to be protected by the government, he said. The government is of the view that PSUs must be protected. PSUs provide an alternative to other approaches to economic development and running of business establishments. However, they must run on profit, for which the government would support modernisation to enhance competitiveness, he said at the inauguration of the Kerala Bamboo Festival in the city.
He said all 41 PSUs in the State, including the Kerala State Bamboo Corporation, had prepared master plans to enhance their businesses. On the basis of the plans, a project management facility would come up in Kochi and it would operate under seven different sections, including finance and marketing, said the Minister. Master plans would also be prepared for the cashew and coir sectors as they too had been brought under the Industries department, he added.
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