A consultant appointed to study loss-making HMT group of companies has recommended revival of HMT Ltd, HMT Bearings and HMT Watches, the government said today.
"Considering a continuous decline in performance of HMT group of companies, a consultant was appointed to study these loss-making companies, except HMT Chinar Watches, and make recommendations for revival with a firmed up business plan," Minister of Heavy Industries and Public Enterprises Praful Patel said in a written reply in the Lok Sabha.
The consultant has recommended revival of HMT Ltd, HMT Bearings and HMT Watches. The revival plans have been formulated for individual company as a whole, not unit-wise, he added.
The revival package for HMT Machine Tools was approved in 2007 and is under implementation.
Replying to another query, Patel said, Cachar Paper Mill in Panchgram has been affected since 2009-10 due to gregarious flowering of bamboo (primary raw-material) and procurement of fibrous raw-material.
The government of Mizoram, which caters 60% to the company's requirement of bamboo, has imposed restriction on issue of permits for
bamboo supply to the company since March, 28, 2011, he said.
Therefore, the Mizoram government has been requested to withdraw the embargo imposed on the bamboo coming from Mizoram to the company, he added.