Thiruvananthapuram: P A Mohamed Riyas, the national president of the Democratic Youth Federation of India (DYFI), has said the CPM-led LDF government's efforts to revive and protect the public sector companies in Kerala has yielded good results.
“The Kerala public sector enterprises registered a profit of Rs 34.19 crore by the mid annual financial year,” the CPM's youth wing chief said in a Facebook post.
“Kerala Minerals and Metals Limited (KMML), Travancore Titanium, Travancore-Cochin Chemicals etc registered impressive profit margins in the first leg of the financial year itself. KMML's profit is Rs 135 crore, the highest ever in its history. Titanium's profit crossed 20 crore,” Riyas pointed out.
Attacking the former Congress-led UDF government, he said these firms collectively recorded a loss of Rs 113 crore in the previous financial year and got back into the profit track in just year-and-a-half of the Left government.
While pointing out that the budgetary allocation for public sector enterprises were raised to Rs 270 crore from Rs 100 crore, he said most of these companies were undergoing a rapid renovation and modernization.
He said the significant achievement by the Kerala's public sector companies was giving out a clear message that, if a pro-people welfare policy was adopted, it was possible to revive the common assets of people
“At a time when the central government and other states follow a blind path of privatization and selling out of public enterprises, the Left government in Kerala is showing an alternative model,” he concluded.
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