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05-23-2016, 04:42 AM
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HMC submits report in SC on **n-payment of salaries
ISLAMABAD: The Supreme Court (SC) had taken **tice of cash-starved Heavy Mechanical Complex (HMC) where hundreds of its employees have been living without salary for six months and had directed the authorities concerned to submit a report in this regard as soon as possible.
In the application, filed by HMC Labour Union Secretary General Syed Murtaza Shah, it had been stated that severe financial constraints were being faced by this entity and employees had been living without salaries for several months. The apex court’s Human Right Cell had sought detailed report from Managing Director (MD) HMC till May 20. Meanwhile, according to the report submitted to the SC by the HMC MD, copy of which is available with The News, stating that the HMC (Pvt) Ltd was wholly owned subsidiary of the government of Pakistan and currently performing mostly under the control of the Ministry of Industry and Production. The principle activities of the company are to manufacture, supply and install machinery for cement, sugar, oil, gas and energy sectors and to engineer, design, manufacture and supply cranes, boilers, defence and construction equipment and production of ferrous and **n-ferrous metals and alloys casting and forging. The HMC MD further apprised the SC that HMC had the resources to handle large projects with demanding delivery schedules. Being the largest and most extensive fabrication and machining facility equipped with state of the art tech**logy, the HMC is proud of its achievements made in development and manufacturing, industrialisation and commissioning of plants and machinery such as provided key solution to 6 cement plants, 41 sugar mills, 210 industrial boilers and 550 EOT cranes. He also told the SC that it was relevant to mention here that though the HMC had versatile business line, but it could be stated that its main business area was sugar sector since it had supplied 42 complete sugar mills besides upgrading more than 35 sugar mills as well. Ever since previous several years, HMC’s major business lasted on regular business of new equipment and spares from these sugar mills worth billions of rupees, nevertheless, after 2014 crushing season sugar mills had been facing a lot of problems in selling their product line due to various eco**mic reasons. This aspect had constrained sugar sector for undertaking BMRE or annual repair/maintenance that used to bring ample business opportunities for HMC. A**ther dilemma, which had stalled from the HMC for procurement of new business was that due to above consequences of sugar sector, the most of the sugar mills which had planned to enter into co-generation of electricity through baggasse fired boilers had suspended their programmes. Despite these factors which are ephemeral in nature and presently thwart the progress, the organisation (HMC) has an inherent potential to revive its financial stature, and in this connection, the enterprise during the current year 2015-16 has so far been able to procure orders of Rs774.347 million and in joint venture with Chinese and FWO, also won an ICB of 48MW Jaggran Hydropower Project in AJK wherein HMC’s portion is more than Rs1,000 million. In addition to this project, the contract of 16MW Naltar-III hydel power plant at GB valuing Rs2.356 billion has been awarded to the HMC. Both of these projects will be executed parallel within next tree years, and it is expected that HMC’s financial health will be improved thereof. Furthermore, the projects valuing Rs1,500 million are in process of negotiation and are expected to be awarded within the current financial year. HMC’s management told the apex court that these projects, however, will be executed with ample availability of working capital in hand, which is **t up to satisfactory level. Moreover, besides the operation matter, it has become difficult for the HMC to maintain industrial peace since they are loosing harmony with the workers due to **n payment of salaries for the last six months as well as other outstanding payments such as electricity and gas bills, payment of services dues of retired employees, arrears to employees, LC documents, payment of Sales Tax, suppliers and contractors bills and sub-contractors, so total liabilities stood at Rs792 million. Because of **n availability of working capital, they said that HMC would be unable to execute its orders in hand as well as to discharge its liabilities. Tthe HMC sent out request to the Ministry of Industries as well as Finance Division to get relief package. As Ramazan is coming so as and when they receive Rs253 million from the government, they will release salaries of employees immediately under instruction of the Human Right Cell of the apex court. أكثر... ??????? ??????: HMC submits report in SC on **n-payment of salaries || ??????: ahlam1399 || ??????: اسم منتداك
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