In a move aimed at speeding up development works by involving retired government employees, Kerala Cabinet today decided to set up a company, Consortium of Retired Experts for Developments (CRED).
This was one of the five recommendations out of the ten-point development agenda, put forward by Sam Pitroda, investment mentor for Kerala, Chief Minister Oommen Chandy told reporters here.
In order to ensure services of retired Government officials for the development of the state, CRED will be formed.
An eight-member Director Board will also be constituted with Planning Minister as Chairman and Planning Secretary as Vice-Chairman, he said.
On other decisions, he said the cabinet gave its sanction to start the work on the Convention-cum-Exhibition Centre on the land acquired for the Lulu Group by the Port Trust at Bolgatty in Ernakulam.
Lulu Centre had ran into controversy after it was alleged that the there were irregularities in the allotment of land to it. However, both the Port Trust and Lulu Group had denied the allegations.
Chandy also said the Kerala State Coastal Development Corporation had been entrusted to take Rs 150 crore loan from HUDCO for implementing a housing project for fishermen.
