Islamabad: Ch. Anwar Ali Cheema, Federal Minister for Production, has stated that the Ministry of Production is following the policy of merit in all of its affairs in order to promote efficiency of precious national assets like Heavy Mechanical Complex (HMC) and Pakistan Steel Mills (PSM). “Corruption, inefficiency and indiscipline will be tolerated at no cost”, the Minister said while presiding over a meeting of the Board of Directors of HMC, here in Islamabad.
The meeting was held to review performance of the company for the period July 2010 to June 2011. In addition to it, other matters related to the approval of budget for the financial year 2011-2012 and approval of PC-1 and progress thereon also came under discussion.
The Managing Director (MD) of HMC, Dr. M. Ashraf Butt, briefed the Minister on the performance and working of the HMC. The MD apprised the Minister that during the period July 2010 to June, 2011 sales of Rs. 2,251.403 million have been achieved which is the highest ever sale achieved by the company since its inception. Moreover, the MD told that the actual production during the period is 3241 tonnes higher than the budget figures and 3348 tonnes higher than the same period last year.
However, some Directors raised question regarding the audit paras and questioned certain procedural and managerial methods of HMC. In this regard, the Minister directed the MD to make all accounts clear of charges and irregularities. The Minister asked to undertake a special/ thorough audit of HMC through professional and well-reputed auditors. The Minister has also ordered to reconstitute the Finance and Human Resource (HR) Committees in order to ensure transparency and fairness.
Moreover, the Minister directed the Board to approach Korean investors for investing in HMC. The Minister observed that HMC is a precious national asset and the Ministry would endeavour to utilize its full potential. Ch. Anwar Ali Cheema remarked that HMC can prove to be best in Mechanical services only after observing complete merit, discipline and competitiveness.
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