Minister for Industries, Production and Special Initiatives Jahangir Khan Tareen said that Ministry would spend Rs1 billion on restructuring of Heavy Mechanical Complex (HMC).
Addressing a gathering of management and workers at HMC, Taxila on Friday, he said,the Ministry is working on its restructuring for the last one month and a comprehensive plan would be ready within 3 months. He said that Government has excluded HMC from the privatisation list due to its sensitive and strategic location.
The minister said that HMC is located near Pakistan Ordnance Factory, Aeronautical Complex and other defence related establishments, which has forced the government to drop it from privatisation list.
The privatisation policy otherwise will continue to be followed in normal course, he added.
The minister urged the management and the workers of HMC that they should work with extra zeal and dedication to avail this opportunity and make HMC a competitive organisation. He warned them that they should not exploit this favourable situation taking undue advantage of the shift.
He said that HMC would be restructured in a way to compete with the private sector and fulfil industrial and economic needs of the country.
In order to meet the objectives, minister said, the HMC management of would be complemented with extra decision making powers to avoid unnecessary delays.
He informed the workers of raising their wages, and the revised minimum wage would be Rs4,000 per month from January 1, 2007. Minister for Labour and Manpower Ghulam Sarwar Khan congratulated the HMC workers on exclusion of HMC from the privatisation list stressing them to put more efforts in making their organisation very competitive.
Managing Director, HMC Syed Ali Ansar and worker's leader Syed Iftikhar Hussain also spoke on the occasion.
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