Ranchi: The Heavy Engineering Corporation Ltd.
(HEC) is here on Monday celebrating the 63rd Foundation Day with low functions held at the company’s headquarters in Dhurwa.
The usual march by HEC employees is accompanied by a tableau which is always part of the Foundation Day celebration carried out for the second year in a row to comply with Covid norms.
A spokesman for HEC and Corporate Secretary Abhay Kanth said the celebration was limited to the statues of Mahatma Gandhi and Sardar Vallabhbhai Patel and the address by the Company’s Directors.
After being dubbed the ‘mother of all industries’, today HEC is struggling against a serious liquidity crisis, a machine that has been outdated and morally low employees.
The company’s executive has not been paid for their monthly salary for the past seven months while the workers have gone without wages over the past five months.
The person in HEC said that the situation had changed to worse on the day with corporations found it difficult to pay for raw materials and other inputs.
“The union government today seems to be more interested in selling PSU to provide Fillip to the private sector.
All PSUs in this country face apathy that are hostile to the central government, including those that produce profits.
In the case of HEC, there is no fiscal assistance to come from the United States Today, since the power in 2014.
HEC does not have a scarcity of work orders, although because of a serious cash crisis, it is difficult to pay for raw materials and other inputs.
It has greatly hampered production and sales, thus only adds to his tribulation, “Rana Sangram Singh, Secretary General of Heart Heart Association affiliated with Intu, to Ti.
However, trade unions are determined to keep the PSU giant float, Singh said.
“I will go to Delhi on November 18 and I plan to meet with the Minister of Industry Union and tell him about the problems faced by HEC and persuade him to help us earliest.
I also plan to meet with the Sonia Gandhi Congress President and persuade him To take HEC cases with the trade union government.
We will do everything to keep HEC float, “he added.
Bhagwan Singh, President Hec Hata Mazdoor Union, feels that the worst hasn’t arrived.
“HEC is a sinking ship.
Apart from the serious liquidity crisis, HEC has been forced to bear the burdens of crops and machines that are already more than 60 years old.
The proposal for modernization of obsolete plants has lied with the Government Government for the past few years .
Payment of outstanding HEC for Jharkhand Bijli Vitaran Nigam Ltd for the supply of power, the central industrial security force, which provides security protection for HEC and other creditors are now experiencing more than Rs 1,100 crores, “Singh said.