Bengaluru, June 22 (IANS) Union Heavy Industries and Steel Minister H.D. Kumaraswamy on Saturday held a meeting with the top officials of the ailing PSU Hindustan Machine and Tools (HMT) in Bengaluru.
During the meeting, the Minister had discussions with the company’s Chairman and Managing Director Rajesh Kohli, along with other senior officials.
The officials observed demonstrations and received comprehensive information about the company’s activities.
Chairman Rajesh Kohli outlined the various problems HMT was facing, including financial crises, lawsuits, and overall losses.
He stressed the need for the Union government’s intervention to resolve these issues.
In response, Minister Kumaraswamy promised to address these challenges.
Minister Kumaraswamy reviewed details on turnover, net profit, and other key metrics.
He discussed the financial, production, and operational conditions of the company with the officials.
The once-glorious HMT is currently facing significant challenges.
The Minister emphasised the need to strengthen the company and instructed Rajesh Kohli to submit a proposal to the Union government for necessary support.
Prime Minister Narendra Modi’s ‘Atmanirbhar Bharat’ (Self-Reliant India) initiative was highlighted as a framework for HMT’s revival.
Minister Kumaraswamy encouraged the officials to adopt this vision and lead the recovery efforts, assuring them of the Union government’s assistance.
The Minister noted that HMT produces tools for the Department of Defence and space programmes, and has manufacturing units across the country.
He suggested that the company should enhance its capacity.
–IANS
mka/khz
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
