Parliamentary Panel Visits HMT Kalamassery to Fast-Track Revival of Cash-Strapped PSU

A parliamentary panel on Monday visited the HMT Kalamassery unit in Kerala to assess the state of the cash-strapped public sector undertaking. The panel, tasked with examining the revival prospects of the ailing PSU, will recommend measures to the Union government and concerned authorities to expedite its turnaround.

The Kalamassery unit, part of the erstwhile Hindustan Machine Tools (HMT), has been struggling with financial losses and outdated infrastructure for years. The visit underscores the government's renewed focus on reviving loss-making PSUs, with the panel expected to suggest a roadmap that could include modernization, strategic partnerships, or financial restructuring. No official quotes were immediately available.

The panel's recommendations, once submitted, could pave the way for a comprehensive revival package for HMT Kalamassery, potentially safeguarding jobs and boosting local manufacturing. Stakeholders, including employees and industry experts, will be watching closely for the government's next move, which could set a precedent for other sick PSUs.