Islamabad, May 17, 2012 (PPI-OT): Federal Minister for Production, Ch. Anwar Ali Cheema, has stated that “HMC is a valuable national asset of the country. The Federal Minister for Production further stated that the performance of HMC is reasonably good, however, it need to utilize its maximum potential.
The Managing Director, Heavy Mechanical Complex (HMC) M. Ashraf Butt, briefed the Board and said that HMC has completed its assignments efficiently, and also within the given time frame. He further informed that during the current financial year 2011-12 (upto 31st March, 2012) Rs.1.896 billion sales have been recorded as compared to first three quarters of last year’s Rs.1.56 billion. The company has also recorded gross profit of Rs.194.5 million for the same period.
MD also apprised that with the support and guidance the of the Minister, Nalter –II hydro power project of 16 MW has also been awarded to HMC for construction. He told the Board that (BMRE) Balance Modernization Replace and Expansion work on PC-I to manufacture power plants is in progress.
The Board has approved increase of salaries of Trainee Engineers from 12000 to 20000 Rupees per month.
In the end, the Minister directed that the progress of projects undertaken by HMC of the Ministry will be examined on monthly basis. Among others, the Meeting was also attended by the Parliamentary Secretary Dr. Mehreen Razaque Bhutto and Secretary Production, Gul Muhammad Rind.
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