Hmt Bearings

In a bid to speed up the process of closing down sick central public sector enterprises (CPSEs), Modi government has sweetened the package for employees opting for Voluntary Retirement Scheme (VRS) by giving them attractive compensation at 2007 notional pay scale.

Govt decides to shut 3 HMT units, offer VRS to employees

"With a cash assistance of Rs 427.48 crore, the three loss making subsidiaries of HMT Ltd, namely HMT Watches, HMT Chinar Watches and HMT Bearings will attain closure after separation of about a thousand employees through attractive VRS/VSS and settlement of their dues," an official statement said.

Reconstruction board approves revival plan for HMT: Sources

Finally the government is considering to breathe life into the ailing watch company HMT. The BRPSE has approved revival plan for the Bangalore-based company, reports CNBC-TV18 quoting sources.

Par approval being sought for disinvestment of HMT Bearings

The government today said it has initiated the process for obtaining Parliament's approval for disinvesting majority stake, through a strategic partner, in ailing HMT Bearings.

Govt considering sale of Central Inland Water Transport

Strategic sales or privatisation is slowly creeping back – with the centre now considering the outright sale of a small company - the Central Inland Water Transport Corp, reports CNBC-TV18.

Govt's privatisation drive: Steps up sale of sick PSUs

It seems that the UPA government is departing from its state policy of 10% divestment in profit making public sector undertakings. This as the government is struggling to achieve its 4.6% fiscal deficit target, in the face of increasing oil and fertilizer subsidies.