New Delhi: There is no move to close leading public sector enterprise Hindustan Machine Tools (HMT) and a special package has been proposed to revive it, Lok Sabha was informed on April 26.

Replying to queries, Minister for Heavy Industries and Public Enterprise, Manohar Joshi, said, "Government does not propose to close HMT and a special package to revive it has been proposed."

He said that not only loss-making PSUs but also profit-making ones are being disinvested as "government's main business is not to do business".

Meanwhile, Finance Minister Yashwant Sinha said that there is no application pending from any new foreign bank with the Reserve Bank of India (RBI) for starting operations in this country.

He said as on March 31, about 40 foreign banks were operating in the country with 192 branches.

PTI