Industrialists hail PSC stand
Urge govt to take possession of defunct unit with its assets
Defunct HMT factory
Srinagar, June 11: The Valley-based industrialists today hailed the Parliamentary Standing Committee on Industries Sector for advocating “handover of defunct HMT factory at Srinagar to the state government.”
President, Federation Chamber of Industries Kashmir (FCIK), Zahoor Ahmad said: “We welcome the announcement by the Committee. It is good that the state takes over the possession of defunct HMT factory along with all its assets.”
Zahoor said there are presently 111 employees working in the HMT factory, of which 61 have already opted for voluntary retirement scheme and “I believe rest can also opt for the VRS.”
“We will be happy if the state government takes back the possession of the unit,” Zahoor said.
Pertinently, the factory, according to sources, has around 500 kanals of land which can be used for developing industrial estate to house micro and small scale industrial units.
Shakeel Qalandar, noted industrialist, said: “It was our demand that in case of closing down the HMT factory, the land leased out by the state industries department should be returned to it, so that same could be used for prospective industry.”
Qalandar added: “But at the same time, it is unfortunate that government of India failed to revive the only public sector undertaking established by it in the Valley.
To mention, a 25-member Parliamentary Committee headed by Rajya Sabha Member, Tiruchi Siva, started three-day tour of the state from summer capital on Sunday.
The Committee held a meeting with a team of officers of the HMT Chinar Watches Ltd and representatives of the State Government to review the performance of the HMT unit.
Sources said that after detailed discussion in the meeting, the Committee directed the Managing Director, HMT factory, Paul Raj to either explore the possibility of making the unit functional like it was in pre-1990s era, or handover the entire property to the state government for better use towards industrial promotion.
Sources said the MD was also asked to take final decision within shortest possible time. However, it was stressed that company should decide the fate of remaining employees before taking any decision.
Lastupdate on : Mon, 11 Jun 2012 21:30:00 Makkah time
Lastupdate on : Mon, 11 Jun 2012 18:30:00 GMT
Lastupdate on : Tue, 12 Jun 2012 00:00:00 IST
- MORE FROM BUSINESS
Islamabad (Anantnag), June 11: Blaming New Delhi appointed interlocutors for “polarizing” J&K on ethnic and communal lines, senior National Conference leader and Parliamentarian Dr Mehboob Beg Monday More
- Srinagar City
Years on police, SMC sleep on roadside parking mess
TRAFFIC TROUBLE PART 2
GK CITY CORRESPONDENT
Srinagar, June 11: Karan Nagar main road, a key link to City’s two prime hospitals –the SMHS and the SK Institute of Medical Sciences (SKIMS) Soura –is often in a mess due to roadside parking of hundreds More
Jammu, June 11: Legal hiccups and official apathy has grounded the two year old proposal of Jammu Development Authority (JDA) to construct shopping complexes on its vacant land in various parts of Jammu More
INDO ASIAN NEWS SERVICE
London, June 11: A low-carbohydrate diet may not be good for the heart as it has been linked with higher cholesterol levels, a study says. The research, conducted in Sweden over 25 years, tracked More
- Education and Career
Aryans Renews MoU With Navjyoti Foundation
Chandigarh, June 11: Started around two years ago with an aim to provide quality education to students from economically weaker background, the objective was again revived when Aryans Group of Colleges More