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HMT arms’ dues to be cleared post BIFR nod

HMT arms’ dues to be cleared post BIFR nod
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First Published: Thu, Apr 17 2008. 03 24 PM IST
Updated: Thu, Apr 17 2008. 03 24 PM IST
PTI
New Delhi: The statutory dues of some subsidiaries of HMT will be cleared after a nod from restructuring bodies like the BIFR, Heavy Industries Minister Sontosh Mohan Deb informed the Lok Sabha.
Dues of the six subsidiaries have been cleared by the Finance Minister P Chidambaram and the remaining five will be sanctioned as soon as the proposals are cleared by BIFR, Deb said replying to supplementaries.
“Government had sanctioned Rs51.84 crore for payment of wages and statutory dues to the employees of HMT group during 2007-08,” he said.
The minister said in case of Central Public Sector Enterprises (CPSEs) under Department of Heavy Industry including HMT and its subsidiaries, an amount of Rs138.75 crore is outstanding of wages, salaries and statutory dues.
Deb said government had sanctioned Rs2481.21 crore during the last four financial years for payment of wages, salaries and statutory dues to sick and loss making CPSEs.
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First Published: Thu, Apr 17 2008. 03 24 PM IST