Intervening on an issue raised by Kumari Selja (Congress) during the Zero Hour in Rajya Sabha, Heavy Industries and Public Enterprises Anant G Geete said the HMT Pinjore units were in a "crisis" and employees have not been paid salaries.
"(We are going) to give VRS to HMT. We have talked with the employees, they are satisfied," he said, adding that the package will be on the lines of VRS announced for three other HMT units earlier.
In January, the Government had decided to close three unviable units of HMT including the once popular HMT Watches, along with HMT Chinar Watches and HMT Bearings, by offering an "attractive" VRS to the employees as per 2007 pay scales.
Raising the issue of non-payment of salaries to the employees of Pinjore units, Selja asked why was the government adamant on its decision to shut down the units.
Selja said she suspected that the land would be sold after the closure of the units.
However, Geete said there was no plan to sell the land.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
