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Cabinet approves budgetary support for HMT


New Delhi : The Cabinet Committee on Economic Affairs (CCEA) Thursday approved budgetary support, in the form of non-plan loan of Rs.27.06 crore, for payment of salary or wages and statutory dues to the employees of HMT Limited for the period March 2013 to September 2013, an official here said.

The CCEA also approved Rs.50.34 crore to HMT Machine Tools Limited for payment of statutory dues – provident fund, gratuity – for the period from September, 2012 to March, 2013.

HMT Limited and HMT Machine Tools Limited are subsidiaries of HMT Limited. Both are Central Public Sector Enterprises under the administrative control of the Department of Heavy Industry.

The work force of the company as on March 31, 2013 was 1,439.