Industries Department to clear PSU dues in phases
The Industries Department will clear pending dues for provident fund, employee insurance, and gratuity for public sector undertakings in phases. Industries Minister P. Rajeeve announced that ₹28 crore is allocated in the 2024-25 State Budget for this purpose. Fifteen PSUs will receive these funds, with an additional ₹42.50 crore planned for the 2025-26 Budget. This funding aims to address long-standing demands from PSU employees for their statutory dues. The Economic Review 2024 notes there are 51 PSUs under the Industries and Commerce department, with a total turnover of ₹4,452.85 crore. The Finance Minister also announced ₹275.10 crore for financial restructuring projects to support these PSUs.