Kerala CM pitches against privatisation of PSUs

Thiruvananthapuram, Sep 08 (PTI):
Kerala Chief Minister Pinarayi Vijayan on Wednesday cautioned against privatising public sector undertakings in the country by the Centre and said the policy of the state government is to retain the PSUs as such and turn them profitable.
Announcing the takeover of the Bharat Heavy Electrical Limited-Electrical Machines Limited (BHEL-EML) in northern Kasaragod district, he said the government would prepare a masterplan for each PSU to expand and diversify its activities and make them capable of reaping profit.
BHEL-Electrical Machines Ltd, Kasaragod, was a Central Public Sector Enterprise (CPSE) and a subsidiary of BHEL, a Maharatna company. “The state government has decided to take over the PSU in view of the privatisation threat. Ours is a government which recognizes the significance of a public sector undertaking,” Vijayan said in a Facebook video.
The PSU was taken over by spending a total of Rs 77 crore including Rs 43 crore for its revival, he said adding that the company would be given a fresh lease of life with advanced facilities.