(by Baby Thomas)

Revival of Hindustan Machine Tools Ltd

Posted on 19-Sep-2010

To
Hon’ble Sri Vilasrao Deshmukh
Minister for Heavy Industries & Public Enterprises
Delhi
Respected Sir,
Sub: Revival of Hindustan Machine Tools Ltd
We would like to bring to your kind notice and favorable decision a resolution passed out by the National Executive Council of NCOA held at Hyderabad on 7/4/2010.
“The NEC resolved that HMT can and should be revised despite the net Losses. That there is a huge market to be tapped for the revival.
These include Job shop work, replacement, Capital Maintenance, life extension, revaluation of assets beside the Original Equipment.
The Essential pre requisites for revival are:
1. Reconstituting the Board of Directors and replacing the Part time Directors with Persons with Public Sectors Engineering industry back ground, Managerial Leadership and ability to motivate the People.
2. Revision of Remuneration Package Pending from 1997 Particularly of Officers, Executives and Engineers so to retain the existing skills as well as attracting the new talent.
3. Immediate induction of Engineering and Managerial skills from other PSUs on deputation.
A Comprehensive revival Package should be evolved through a tripartite mechanism with out any further loss of time.”
Yours truly,
Baby Thomas

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