THIRUVANANTHAPURAM: Law, Industries and Coir Minister P Rajeeve on Friday distributed awards for the best public sector undertakings under the Industries Department at a function held at Muscat Hotel in Thiruvananthapuram.
Travancore Cochin Chemicals, Malappuram Co-operative Spinning Mills, Kerala Ceramics Limited and Kerala Artisans Development Corporation are the best public sector undertakings that have won the awards. The award carries a cash prize of Rs 5 lakh and a citation. The award was decided based on factors, including the annual growth rate recorded in the last three years.
Travancore Cochin Limited MD K Harikumar and Kerala Ceramics Limited MD P Satheesh Kumar have won the award for the best managing director.
The award carries a cash prize of Rs 1 lakh and a citation.
To bring about a paradigm shift in the functioning of public sector undertakings, an ‘MoU and Business Plan’ will be implemented in all establishments during the financial year 2024-25. As part of this, the first Memorandum of Understanding (MoU) was signed by the Travancore Titanium Products and the Industries Department on the occasion.
The MoUs with other firms will be signed between the Industries Department and BPT (Board for Public Sector Transformation) by the end of this month. The process for this is progressing. The implementation of the MoU aims at achieving better operational progress in the areas of productivity, turnover, profitability, financial discipline, quality and approval of product, labour-management relationship, relationship with R&D institutions and social commitment.