Restructuring and Internal Audit Board to be revamped

Ahead of master plan implementation in public sector undertakings

Industries Minister P. Rajeeve has announced a revamp of the public sector Restructuring and Internal Audit Board (RIAB) to equip it with a project management system with technical experts from various fields for the implementation of the master plans in 41 public sector units.

Speaking at a press conference here on Friday, he said the master plans which were prepared recently for public sector undertakings (PSUs) aim at protecting them even while making them competitive and profitable and not requiring frequent fund infusions from the government for their survival.

"Separate project management teams will be formed for each of the seven categories of PSUs. Each team will have a technical expert from the respective field, a planning and administration expert and a financial expert. Roy Kurian, former Managing Director, Kerala Minerals and Metals Limited (KMML), will coordinate the activities of all the committees. The committees will be visiting each of the PSUs under them as part of the implementation of the master plan. The institutions can also use the services of interns from top institutes for project implementation," said Mr. Rajeeve.