Public sector industries set for restructuring in Kerala

Rajeeve says master plans are being prepared for individual companies

The State government and the Industries Department are committed to attracting ‘responsible investment’ to the State and restructuring public sector industries in tune with the changing times, Minister for Industries and Law P. Rajeeve said on Thursday. Master plans are being prepared for individual companies by classifying public sector industries into seven categories such as chemical, manufacturing, electronics, wood-based and traditional, Mr. Rajeeve said, participating in a meet-the-press event organised by the Kerala Union of Working Journalists (KUWJ) and the Kesari Memorial Journalists’ Trust. “Roadmaps for development will be prepared on the basis of the master plans and stakeholder consultations. We hope that the master plans can be approved by August 1. A project monitoring mechanism will be established at the Public Sector Restructuring and Internal Audit Board (RIAB). The RIAB also will undergo a restructuring,” the Minister said.