No disinvestment of PSUs in state: Kerela Industry Minister

Ruling out privatisation of state public sector units, Kerala Industries Minister PK Kunhalikutty on Tuesday said the Congress-led UDF Government would carry out a review of their functioning to strengthen them.

The UDF Government would not privatise any of the state public sector units and disinvestment was not in its policy agenda, he told a meet-the-press organised by Press Club.

On the other-hand, as part of the government move to strengthen the PSUs, a review of their functioning, including that of their chief executives, would be carried out, he said.

The state Public Sector Restructuring and Internal Audit Body has been entrusted with the review, he said adding that based on its report, the government would take a decision on whether to retain the CEO's or shift them. The process would be completed within two weeks.

A Global Investor Meet to attract investors was also on the cards with thrust on IT and industries that suites Kerala and also environment friendly initiatives, he said.

The government wanted to encourage small-medium industries along with IT, he said adding manufacturing units requiring large stretches of land were not conducive for the state.

On the ambitious 'Smart city IT project at Kochi promoted by Dubai based Tecom Investments Ltd, Kunhalikutty said a meeting with CEO's of the promoters was planned on June 23.

The deal for the project was singed by the previous LDF government at the fag end of their five year rule.

Asked whether there would be any change in the agreement, he said only after a discussion anting could be said.

The new Industrial Policy of the state would be announced shortly after holding discussions with the stake holders, he said.