Kerala - Kochi   

KFC to back sick units

KOCHI: Finance Minister T.M. Thomas Isaac has said the Kerala Financial Corporation (KFC), a non-banking financial organisation functioning under the Government of Kerala, will give a new thrust to revival and rehabilitation of sick industrial units in the State. He was addressing a clientele meeting of the KFC here on Tuesday.

The corporation would play the role of a development financial institution in Kerala. It has set a target of revival of 500 sick units in the next six months and this is expected to provide employment to about 5,000 people.

The Minister promised more budgetary support to the KFC. A special drive to assist units in difficulty had already been launched.

The KFC would encourage sick units to prepare rehabilitation or diversification schemes. It would provide a more liberal One Time Settlement scheme in deserving cases.

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