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Thiruvananthapuram : United Nations Economic Affairs Assistant General Secretary Prof Jomo Kwame Sundaram will inaugurate a two-day international conference on ''Resurgence of State Owned Enterprises- Role of Ownership Policy and Corporate Governance'' at Kovalam on December 10.
The event is being hosted by the Department of Industries and Commerce, Kerala Industry Minister Elamaram Kareem said in a release here today.
This Conference has been conceived after the National Conference on ''Resurgence of State Owned Enterprises- The Kerala Experience'' which was held in November 2009 in New Delhi, he said.
The effort was to draw public attention to the acclaimed strategic initiatives undertaken by the State Government and the resurgence of the State Owned Enterprises (SOEs) during the last few years, he added.
The attempts of the state government to turnaround the SOEs were well received and accepted by the participants and it was the general opinion of the conference that, issues related to the resurgence of SOEs should be debated at an international level in the light of the Kerala experience, he noted.
This was followed up by a state-level conference at Thiruvananthapuram and two regional-level conferences at Ernakulam and Calicut, Mr Kareem said. In 2006, when this government came to power in the state, it had a declared a policy of protecting and reviving the SOEs, the minister observed.
The industrial policy of the government was to revamp and modernise the SOEs without privatising the assets and to convert them as exemplary productive zones, he said and added in 2005-06, out of total 42 SOEs under the Industries department, only 12 were profitable and the total loss made by all the units was Rs 70 crore.
But from 2006-07, the total profits made by all the units rose to Rs 92 crore in 2006-07, Rs 81 crore in 2007-08, Rs 170 crore in 2008-09.
During 2009-10, all the units except five were turnedaround and the total profit made by them was Rs 240 crore.
It is expected that in 2010-11, all the SOEs under the Industries department will be making profits.
The 'Revival/ Modernisation and Greenfield Projects' worth Rs 250 crore announced by Union Finance Minister Pranab Mukherjee in his budget speech for 2010-11 and the status of implementation of these projects are clear evidences of the success and the solidarity of the government towards its Industrial Policy.
--UNI
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This Conference has been conceived after the National Conference on ''Resurgence of State Owned Enterprises- The Kerala Experience'' which was held in November 2009 in New Delhi, he said.
The effort was to draw public attention to the acclaimed strategic initiatives undertaken by the State Government and the resurgence of the State Owned Enterprises (SOEs) during the last few years, he added.
The attempts of the state government to turnaround the SOEs were well received and accepted by the participants and it was the general opinion of the conference that, issues related to the resurgence of SOEs should be debated at an international level in the light of the Kerala experience, he noted.
This was followed up by a state-level conference at Thiruvananthapuram and two regional-level conferences at Ernakulam and Calicut, Mr Kareem said. In 2006, when this government came to power in the state, it had a declared a policy of protecting and reviving the SOEs, the minister observed.
The industrial policy of the government was to revamp and modernise the SOEs without privatising the assets and to convert them as exemplary productive zones, he said and added in 2005-06, out of total 42 SOEs under the Industries department, only 12 were profitable and the total loss made by all the units was Rs 70 crore.
But from 2006-07, the total profits made by all the units rose to Rs 92 crore in 2006-07, Rs 81 crore in 2007-08, Rs 170 crore in 2008-09.
During 2009-10, all the units except five were turnedaround and the total profit made by them was Rs 240 crore.
It is expected that in 2010-11, all the SOEs under the Industries department will be making profits.
The 'Revival/ Modernisation and Greenfield Projects' worth Rs 250 crore announced by Union Finance Minister Pranab Mukherjee in his budget speech for 2010-11 and the status of implementation of these projects are clear evidences of the success and the solidarity of the government towards its Industrial Policy.
--UNI
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