Hindustan Motors (HMT) revival package has seen government facing heat of the Parliament’s Standing Committee on Industry, with the committee slamming the government for sitting over a proposed revival package for over five years. It also raised concerns over how the public sector unit went into red despite huge demand for machinery tools in India.
The Parliament panel recommended that a wholesome revival package be released immediately for the company. The committee criticized the government and stated that Rs 8,000 crore machine tool industry in India was growing considerably but the government did nothing in interest of the company to protect the over 10,500 workers and restore the health of the organisation. Out of Rs 8,000 crore space, the company is able to capture just Rs 200 crore and the rest of it is shared by private players and imports from foreign countries.
HMT manufactures engineering goods like machine tools, watches, tractors, printing machines, die casting and plastic processing machinery, metal forming presses and bearings.
| Company Name | CMP |
|---|---|
| BHEL | 337.95 |
| Thermax | 4062.55 |
| Kirloskar Oil Eng | 1607.50 |
| Skipper | 469.90 |
| GMM Pfaudler | 912.30 |
| View more.. | |
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