The fate of 9 sick PSUs and their staff are sealed. The Heavy industries minister has stated in the Parliament that out of 55 sick units, efforts will be made to revive 46 and the rest 9 will be closed down.
The 9 sick units which will be closed include HMT Bearings, Tungabhadra Steel Products, Hindustan Photo Films, HMT Watches, HMT Chinnar Watches, Hindustan Cables and Spices Trading Corporation.
These were all profit making companies. HMT watches was one of the best PSUs manufacturing the best watches in India. It is only due to the anti-PSU policy of the government that all these PSUs have become loss making.
The government is on the move to close down the PSUs, one after another. These should be opposed and defeated.