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From one hand to another
This item hidden away in a corner of today's edition of "The Hindu" caught my attention. HMT Watch Factory bags Rs. 51-cr. order.
HMT Watch Factory here will soon start manufacturing gold-plated watches, Chairman of HMT Ltd. M.S. Zahed has said.Why does BHEL need gold-plated watches? Why does BHEL need Rs. 51 crores of gold-plated watches? I don't quite know of any heavy engineering which would need such a huge number of gold-plated watches.
My gut feeling tells me that this is a transfer from one hand to the other. BHEL is doing well financially. HMT is not. Both are PSUs. Governments, political parties, trade unions and employees want HMT to survive. So the best way out is for BHEL to buy gold-plated watches for Rs. 51 crores. Maybe BHEL employees are in for a bonanza - a year-end gold-plated watch as a gift!
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