• Public Sector Restructuring and Internal Audit Board - RIAB

Governing Board

Public Sector Restructuring and Internal Audit Board – RIAB

Vision

 

To enhance the Value of Public Sector Undertakings (PSUs) in Industrial, Welfare and Traditional Sectors and increase the Return on Investment

Mission

 

  • Implement Corporate Strategic Plans based on health classification of PSUs and make them accountable to the Government through MoUs / Performance Contracts by 2023.
  • Enhance the Beneficiary coverage of PSUs in the Welfare and Traditional Sectors by 2024.
  • Increase the Turnover of PSUs and make all PSUs profitable by 2025.

Activities-RIAB

 

  • Appraisal of strategic Plans and Projects of PSUs for providing Budgetary support.
  • Ensure speedy implementation of Modernisation/capacity expansion projects of PSUs.
  • Initiate Research and Development activities for new product development, introduction of value-added products, technology up-gradation and cost reduction.
  • Institute systems for Succession Planning
  • Accelerate initiatives for capacity building at different levels of employees in PSUs.
  • Broad base implementation of Computerised Systems / ERP for increasing operational efficiency and transparency
  • Institute Systems for Timely Audit Completion and for ensuring accountability of PSUs to the Legislature.
  • Ensure compliance of PSUs to relevant statutes
  • Works related to Restructuring of HNL and BHEL-EML taken over from Central Government.
  • Works related take-over of Instrumentation Ltd – Palakkad Unit.

Activities – PSUs

 

  • Identify new Mineral deposits, carry out mining, and engage in Processing, Production and Marketing of Products related to Chemical and Cement sectors using Main land and Sea Port based infrastructure.
  • Manufacture engineering assemblies and implement a combination of Projects &Technical Services for Engineering, Power and Transport sectors.
  • Formulate, develop, manufacture and sell Drugs and Pharmaceutical products.
  • Manufacture Heavy Electrical Equipment required for Power Generation, Transmission and Distribution.
  • Construct Heavy Civil Structures for Power Projects, Bridges and Ports.
  • Effectively manage enterprises for spinning, weaving and garment making for manufacturing yarn, cloth and processed fabrics.
  • Promote Electronic Industries in Kerala for manufacturing diverse products needed for Defence, Space and Telecom Industry.
  • Restructure and ensure viable operations of Handloom, Handicraft, Bamboo and allied sectors.
  • Provide Technical and Supply-Chain Management support for growth and sustenance of MSMEs.
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