New Delhi: The government on Thursday said a revival plan has been formulated for the ailing Hindustan Machine Tools (HMT).
The plan includes implementation of pay revision of company's employees.
"A revival plan has been formulated for the company and all the grievances have been factored in the revival plan," Minister of Heavy Industries and Public Enterprises Praful Patel said in a written reply in Lok Sabha.
The government has received representations from various employees union, including Joint Action Committee of all India HMT Workers and Officers, seeking implementation of pay revision, increase in retirement age to 60 years from 58 years and the company's revival, he said.
Replying to another query, Patel said, based on the recommendations of the Board for Reconstruction of Public Sector Enterprises (BRPSE), the government has approved revival of 43 sick CPSEs at a total cost of Rs 25,083 crore till November 30, 2011.
The total cost included cash assistance worth Rs 3,860 crore and non-cash assistance of Rs 21,223 crore, he added.