The Kerala government will provide a one-time financial assistance for restructuring ailing and closed public sector undertakings (PSUs), according to Minister for Industries Elamaram Kareem.He said the government would also assist ailing PSUs to get finance through banks and other financial institutions. A meeting of senior officials of banks and the state government has been scheduled for August 30.Addressing a state-level review meeting of CEOs of public sector undertakings, the minister said that each company should prepare a detailed project report to help the government get loans for revitalising the units.The minister also urged the companies to file a monthly performance evaluation report with the government before 5th of every month in a format provided by the industries department.All PSUs should have co-ordination in purchasing machinery and materials and share management expertise. "There should be complete co-ordination among public sector companies. Performance and commitment will be the main criteria for continuation as CEOs. The government will not tolerate political lobbying," he asserted. The government has decided to institute awards for excellence in public sector companies. Awards will be given to the best PSU, best CEO and best worker/workers group for providing innovative ideas.
