HMT Ltd, Hindustan Cables to be revived soon: DPE Secy
New Delhi: Sick units like HMT Ltd and Hindustan Cables will be revived soon as proposals to nurse these units back to health are in advanced stages, Department of Public Enterprises Secretary O P Rawat said here on Tuesday.
"Hindustan Photo films is one of the sickest PSU and its employees salary level is also too low. Ailing PSUs like HMT Ltd and Hindustan Cables Ltd (HCL) revival plans are in advanced stages and would be revived soon," he told reporters on the sidelines of a CII function here.
The Board for Reconstruction of Public Sector Enterprises (BRPSE) has recommended revival of these ailing public sector units, he added.
The BRPSE, which was established in December 2004, is an body to advise the government on the strategies, measures and schemes for strengthening, modernising, reviving and restructuring public sector enterprises.
Besides, the board has suggested revival in the case of HMT Bearings, HMT Watches Ltd and British India Corporation Ltd.
HMT Ltd has been involved in the business of manufacturing tractors and watches and HCL is engaged in manufacturing and supply of telecommunication jelly filled cables, optic fibre cables and telecom turnkey services.
Ooty-based Hindustan Photo Films Manufacturing Company Limited is mainly into medical diagnostic films like medical X-ray, medical imaging film, mammographic film and scanner film.
Last month, the Cabinet had approved a Rs 200-crore revival package for ailing Scooters India Ltd (SIL).
Of the total 249 CPSEs, about 62 units were sick as on March 2011.
The retirement age of employees of most sick PSUs is 58 years and they get salaries as per the 1992 scale. Their counterparts in profit making PSUs get pay and allowances based on the 2007 scale.