Government Initiates Revival of HMT Machine Tools Ltd.
The Government of India has taken steps to revive HMT Machine Tools Ltd., following recommendations from a Technical Committee formed on November 1, 2024. HMT Machine Tools Ltd., a subsidiary of HMT Limited, is struggling financially due to outdated operations and machinery, leading to a considerable decline in its net worth. Currently, the company is facing delays in employee salary payments, with a backlog of two months in the Kalamassery Unit. Measures are being considered under the Public Premises Act to address these challenges. This information was provided by the Minister of State for Heavy Industries in the Lok Sabha.
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