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State cannot always support PSUs: Karim

KOZHIKODE: Industries Minister Elamaram Karim laid the foundation stone for a factory under Kerala Soaps Limited (KSL), the new public-sector enterprise, at Vellayil here on Saturday.

Speaking on the occasion, Mr. Karim called upon all those concerned to see that the work is finished in nine months. He said the government would only intervene only once to rejuvenate Public Sector Units (PSUs). The State government would not be able to support PSUs from time to time, he said.

Mr. Karim said the State government was of the view that private investment was needed especially in sectors like IT and electronics, as the government cannot make huge investments there.

Even though KSL will be a new entity, it will try to make use of the brand name of the former Kerala Soaps and Oils Limited (KSOL), he added.

The Minister made it clear that the State government was not willing to protect loss-making PSUs expect those in the service sector. Forest Minister Benoy Viswom was the chief guest. A. Pradeep Kumar, MLA, presided over the function.

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