Hyderabad: The Centre has decided to shut down the over four-decade-old Hindustan Cables Limited in Hyderabad.
HCL, a Government of India undertaking under the ministry of heavy industries and public enterprises, was a pioneer in the field of telecom cables in the country. However, it was hit hard due to the emergence of wireless technology. This is the first central public sector unit that will be closed after formation of Telangana and will join the long list of closed units like Allwyn, Republic Forge, Praga Tools and others, rendering thousands of employees jobless.
News of the closure of HCL came as a rude shock to 600 odd employees who were awaiting a revival package from the ministry with a tie up with the Ordnance Factory Board and Rashtriya Ispat Nigam, which failed to materialise.
On January 27, the management of HCL, which is located in Cherlapally in Ranga Reddy district on 327 acre, was asked to furnish calculation
sheet on the VRS package for the 600 odd employees.
“On the basis of the calculation sheet, a Cabinet note is being prepared for approval of CCEA,” Mr A.K. Deori, director, ministry of heavy industries and public enterprises stated in a letter to the HCL Employees’ Union.
“We are shocked at the decision. Over 600 people will be thrown on the streets. The state and Centre should come to our rescue,” said Mr A. Nagaraju, treasurer of the employees union.
TRS leader Mr Srinivas Taduri has urged Chief Minister Mr K. Chandrasekhar Rao to intervene immediately and save the employees and company.
