LOK SABHA
The non-performing
assets of HMT Watches are proposed to be disposed off for discharging
its liabilities and reducing debt burden as per the Turnaround
Plan approved in 2000.
There has been a
fall in the production and sales due to competition, availability
of spurious and cheaper variety of watches and liquidity crunch.
The details of production & sales are as under: -
(Rupees in crore)
|
Year
|
Production
|
Sales
|
|
1999-2000
|
120.26
|
110.24
|
|
2000-2001
|
144.08
|
126.23
|
|
2001-2002
|
79.05
|
96.08
|
|
2002-2003 (Upto
31.10.02)
|
25.48
|
30.26
|
Out of about
150 acres of land owned by HMT Watches Limited in Bangalore, 32
acres of surplus land including certain buildings have been advertised
for disposal.
This information
was given by Dr. Vallabhbhai Kathiria, Minister of State for Heavy
Industries and Public Enterprises in a written reply to a question
by Shrimati Minati Sen in Lok Sabha today.
