The State government has taken over the Central public sector undertaking Bharat Heavy Electrical Limited-Electrical Machines Limited (BHEL-EML), located in Kasaragod.
Making the declaration at an online conference on Tuesday, Chief Minister Pinarayi Vijayan said the government would try to open public sector units in every possible sector in which it could intervene.
EML, which was opened in 1990, was under the control of the State government till 2010, when a 51% stake in the company was transferred to BHEL, making it a Central PSU. Though diversification and expansion were the aim, it fell into loss soon after. The plan for privatising the company were announced a few years back. The LDF government expressed its wish to take over the company, Mr. Vijayan said.
As part of the transfer, the government would spend ₹77 crore, including ₹43 crore for renovation and ₹34 crore in existing liabilities. In addition, ₹14 crore would be utilised to clear pending wages of employees.
The company manufactures power car alternators, train lighting alternators, traction motors, controllers, alternators and streetlight controllers.
“After independence, our country has followed a policy of strengthening public sector units. However, with globalisation, there was a change in the policy which tilted towards privatisation. However, when moves were made to privatise PSUs in Kerala, the LDF government took a stand to ensure that these companies remained in the public sector. We have taken over the Palakkad unit of Instrumentation Limited as well as Hindustan Newsprint Limited in Kottayam. For this, we need the cooperation of workers,” Mr. Vijayan said.
Industries Minister P. Rajeeve, who presided over the function, said the government aim was to turn all PSUs into profit-making companies through diversification and modernisation. Master plans were being prepared for all the PSUs.
