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PSUs in Kerala make Rs 386.05 crore profit, govt appoints experts to make them more professional

KMML- Image Credit - Wikipedia

Kerala is scripting a success story when it comes to running Public Sector Undertakings (PSUs) which for the last several years have been gulping public money without making any profits.

A latest tweet by Chief Minister Pinarayi Vijayan revealed how the PSUs became profit making units. “25 PSUs in Kerala have made operating profits totalling Rs 386.05 crore with a turnover of Rs 3892.13 crore  an increase of 17.80 per cent,” the CMO Kerala said in a tweet.

To add further professionalism in the functioning of PSUs, the government has included experts from various relevant fields as members in the boards of directors of the PSUs. The decision to include the experts was made as part of a comprehensive program to improve the performance of the PSUs. As per officials in the industries department, an order was issued recently appointing 34 directors in 26 public sector institutions.

The experts were Former Director General of Income Tax Department P K Vijayakumar in KMML, former General Manager of Mumbai Ratnagiri Refinery V Venugopalakurup in KMML, Ex-Director of Bangalore Refinery M Vinayakumar in KML, Ex-MD of NABARD Fin Services Dr  B S Suran in Cashew Development Corporation, BPCL Ex-Executive Director P Murali Madhavan in Malabar Cements, HOCL Ex-Executive Director K K Kunjumon in TCC, former Head of Cusat Department of Electrical Engineering Prof C A Babu in Hindustan Photo Phillips Company, Ex-GM Philip John in KEL, eminent Chartered Accountant John Abraham in TelK among others.

Industries Minister P Rajeev had said that various measures are being taken including preparation of a master plan to guide public sector institutions towards excellence. ‘There is no doubt that the appointment of new directors in every organisation will create positive effects,” he said in a FB post. There are 41 PSUs directly under the control of the government. The BHEL-KEL enterprise in Kasaragod and Kerala Papers Limited are also now under the control of the state.

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