* Company’s MD directed to take decision shortly
Excelsior Correspondent
JAMMU, June 10: A Parliamentary Standing Committee on Industries Sector today strongly advocated the handing over of ‘defunct’ HMT factory at Srinagar to the State Government in order to make better use of the property for industrial promotion and directed the Managing Director of the company in explicit terms to take decision in this regard within shortest possible time.
The 25-member Parliamentary Panel headed by Rajya Sabha Member, Tiruchi Siva, which started three day tour of the State from summer capital today, had a detailed meeting with the team of officers of HMT Chinar Watches Ltd and representatives of the State Government headed by Commissioner Secretary, Industries and Commerce, Shantmanu on the functioning and performance of the HMT’s unit.
The Parliamentary Panel was informed that the HMT Chinar Watches unit, which was set up at Industrial Estate Zainakote by the then Prime Minister, Indira Gandhi in 1975, was one of the renowned entities of the company prior to the eruption of militancy in the State. Following the start of militancy, majority of its employees migrated and accordingly the downfall of the unit started.
“Though the security scenario in the Kashmir valley has improved considerably during the past some years yet the company has not paid any serious attention towards infusing new lease of life in the unit and due to this the fate of around 100 employees has also been hanging in balance”, the Parliamentary Standing Committee was informed.
After detailed discussion on the issue, the Parliamentary Standing Committee directed the company’s Managing Director, Paul Raj to either explore the possibility of making the unit functional on the pattern of pre-militancy era or hand over the entire property to the State Government for better use vis-à-vis industrial promotion, sources said, adding the company was also asked to take final decision within shortest possible time. However, it was stressed that company should decide the fate of remaining employees before taking any decision.
As per the officials of the State Industries Department, 300 kanals open and 105 kanals built up area of HMT Chinar Watches Ltd, which is lying ‘unused’ during the past several decades, could be better utilized for opening of more industrial units in the Zainakote area, which would accordingly increase industrial activities and generate employment.
The Parliamentary Standing Committee also had a meeting with the SBI and KVIC to assess the implementation of Prime Minister’s Employment Generation Programme (PMEGP). The Panel was informed that all the Small Scale Industrial Units which were opened in the State under the Programme during the past four years, have been functioning properly, sources said.
The PMEGP is a credit linked subsidy programme introduced by the Union Government by merging the two schemes namely Prime Minister’s Rojgar Yojana (PMRY) and Rural Employment Generation Programme (REGP). Under the scheme, bank loans are sanctioned in the favour of interested persons for setting up of Small Scale Units.
Tomorrow, the Panel would be having meeting with ITI Limited to assess the performance on the Memorandum of Understanding (MoU) and on June 12, the Standing Committee will reach winter capital of the State.
On June 13, the Panel would meet with Housing and Urban Development Corporation Ltd on the issue of MoU performance and held meeting with PNB and KVIC to assess the PMEGP in the Jammu region besides interacting with the Chamber of Commerce and Industry representatives.
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