Kumaraswamy seeks report on HMT’s revival
A day after holding a discussion with officials of HMT Ltd. in Bengaluru, Union Minister for Heavy Industries and Steel H.D. Kumaraswamy has said he has given a month’s time to officials concerned to submit a report on the possible ways of reviving the company.
“I took details during the nearly three-and-a-half-hour meeting on Saturday and I gave them a month to file a report on how it can be revived. They do not have money to pay salaries. Neither Prime Minister Narendra Modi nor I are responsible for the situation. It has been destroyed long ago,” Mr. Kumaraswamy told reporters here on Sunday. Stating that the company was facing a huge loss, he added: “I cannot expect any cooperation from the State government given the way it is conducting itself. The then Maharaja had given 500 acres in Peenya Plantation of which 115 acres were sold sometime around 2000 to private entities,” he added.
The Union Minister said he had not been made the Union Minister for divestment of PSUs. “I will try to revive these companies as far as possible. I am still seeking reports of the PSUs.”
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