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You are here: Home » National News » Aviation» Pawan Hans divestment plan to be finalized in a week

Pawan Hans divestment plan to be finalized in a week

10 August 2017 | New Delhi
 

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A senior official said that the Ministry of Civil Aviation is in the last stages of preparing the modalities of disinvestment of State-run helicopter operator Pawan Hans and will send its proposal for evaluation “within a week”.

In October last year, the Cabinet Committee on Economic Affairs (CCEA) had given its in-principle approval for strategic disinvestment of profit-making Pawan Hans.

The Centre holds 51% stake in the chopper firm while another State-owned giant Oil and Natural Gas Corporation owns the remaining 49%.

“We will be sending our proposal to an Evaluation Committee, which will then forward it to the Department of Investment and Public Asset Management (DIPAM)."

A senior ministry official said that “The Core Group of Secretaries on Disinvestment (CGD) at DIPAM will then look into our suggestions.”

A meeting was also held on Wednesday at the Ministry on this issue where both Minister of Civil Aviation Ashok Gajapathi Raju and Minister of State for Civil Aviation Jayant Sinha were present.

The official said that the set of recommendations from the Ministry will also deal with issues of landed property and assets of Pawan Hans.

A section of employees of Pawan Hans recently wrote to the Prime Minister’s Office and suggested that the firm be merged with ONGC or made a subsidiary company by way of increasing ONGC’s stake to 51%.

   
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