• Public Sector Restructuring and Internal Audit Board - RIAB

Governing Board

Public Sector Restructuring and Internal Audit Board – RIAB



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



  • 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.



  • Appraisal of Projects of PSUs and placing before Working Groups for budgetary support
  • Facilitate release of budgetary funds and monitor plan progress
  • Provide support for Master Plan project implementation through a specialized team
  • Monitoring implementation of projects using PMS and 100 days programme portal
  • Implementation of Technical Assistance programmes (carried out programmes with UNDP, RNE and COMSEC)
  • Managed Kerala Industrial Revitalization Fund
  • Monthly Performance Monitoring
  • Monitor Audit Completion
  • Capacity building of Board Members and Senior Management in Corporate Governance
  • Training for various levels in PSUs
  • Work related to utilisation of excess land in PSUs for creation of SMEs in collaboration with DI&C
  • Carryout enquiries and fact-finding audits as required by the Government
  • Works related to take-over of PSUs
  • Introduction of MoU System in PSUs
  • Institution of awards to Best Performing PSUs, MDs, Officers, Employees and Reports in Print & Visual media
  • Industry-Academia linkages for R&D and Performance Management
  • Broad-based implementation of ERP in collaboration with Digital University, Kerala
  • Develop e-Commerce Platform for Traditional Sector Industries in collaboration with Digital University, Kerala

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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