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Minister for raising salaries of CEOs

Staff Reporter

Thrissur: Industries Minister Elamaram Karim has said that he wants to raise the salaries and benefits for chief executive officers of public sector units.

Inaugurating a seminar on ‘Steel Industrials Kerala Limited (SILK) and related firms’ here on Thursday, he said that PSUs were not getting competent CEOs because of the low salaries being offered.

“I am not satisfied with the appointments to director boards of various PSUs. Political appointments have severely affected their functioning. Discussions are on to raise the salaries and benefits for CEOs of PSUs.”

The government, he said, was trying a different approach to revive sick PSUs. “The annual budget allocation to compensate for losses made by PSUs cannot solve the problem. Instead, we are planning urgent direct support to solve the crisis faced by each unit. Each PSU should stand on its own feet. Agreements to achieve this should be forged by managements and employees.”.

Later, he presented State and district-level awards for successful small industrialists at a function organised by the Industries Department.

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