Bengaluru, June 22 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.
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