HMT, other sick/loss-making CPSE employees to get salary

New Delhi, Oct 11 (UNI) Employees of 12 sick or loss-making central public sector enterprises (CPSEs), including HMT, will now get outstanding dues and salary up to June 30, 2007 with the Government today approving a budgetary support of Rs 63.20 crore for them.

The approval was granted at the Union Cabinet meeting, presided over by Prime Minister Manmohan Singh, Information and Broadcasting Minister Priya Ranjan Dasmunsi told reporters here.

The 12 CPSEs are: HMT Limited, HMT (Watches) Ltd, HMT (CW) Ltd, Hindustan Cables Ltd, Andrew Yule and Co. Ltd, Bharat Wagon Engineering Co. Ltd, Hindustan Photo Films Ltd, Triveni Structurals Ltd, Tunghbadra Steel Products Ltd, Instrumentation Ltd, National Instruments Ltd. and NEPA Ltd.

The decision for budgetary support will mitigate the hardship of the employees, thereby motivating them for better output and prepare them to achieve the goal of reviving and restructuring the companies, Mr Dasmunsi said.

UNI