RIAB launches online monitoring site for State Owned Enterprises

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Tvm: RIAB, the Public Sector Restructuring and Internal Audit Board under the Department of Industries & Commerce, Government of Kerala, has launched a portal for daily, weekly and monthly online monitoring of the performance of Public Sector Undertakings (PSUs) or State Owned Enterprises in Kerala. There are a total of 44 PSUs or SOEs in Kerala.

According to K Padmakumar, Secretary, RIAB, the Daily Reporting Performance Report is based on a daily reporting format that has been made online on the RIAB’s website to report certain key financial performance indicators. The Head of Finance of respective PSUs are responsible for entering the daily information. For Units under PSUs which keep independent accounts, the responsibility is with the Unit Head.

The Weekly Reporting Performance Report is based on a weekly reporting format on technical key performance indicators. This will be implemented from mid August 2011. The Monthly Reporting Performance Report is based on monthly performance reporting based on financial key performance indicators. The parameters have to be entered by the 10th of every month and the expenditure reporting will be on actuals and not on budgeted amounts.

The performance reporting portals will be password protected and is accessible only by the MD or the Head of Finance at the company level, to avoid redundancies in data / information exchange. The consolidated reports (weekly & monthly) will be sent to the Industries Minister and the Industries Secretary.

RIAB has also set up a portal to get suggestions from employees of Public Sector Companies under Industries Department Government of Kerala. While it is not mandatory to disclose the identity, the name and details of those who disclose their identity will be kept strictly confidential. Actions initiated will also be posted on the website, if the suggestion is given disclosing identity in full.

Anil Philip
Kerala IT News

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