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The Hindu
The Hindu
National
The Hindu Bureau

Grant autonomy to HMT unit, demands Chandran Pillai

HMT

KOCHI 

GCDA Chairman K. Chandran Pillai has urged HMT Chairman and Managing Director A.K. Jain to augment the workforce at its Kalamassery unit by recruiting at least 100 new employees.

Functional autonomy and strengthening the workforce would better the performance of HMT Machine Tools, Kalamassery, and also create more employment opportunities, he told the Chairman in Kochi. Mr. Pillai said that HMT Kalamassery continued its record of making profit even in the last fiscal, with a working profit of ₹9.5 crore. If the interest liability at the rate of 15.5% being charged by the Centre since 2006 on a loan granted for a compulsorily introduced retirement scheme was done away with, the unit’s actual profit would rise to ₹7 crore, he said.  

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