• Rajasthan

    Cong 98
    BJP 74
    RLM 3
    OTH 24
  • Madhya Pradesh

    Cong 111
    BJP 110
    BSP 2
    OTH 7
  • Chhattisgarh

    Cong 67
    BJP 17
    JCC 6
    OTH 0
  • Telangana

    TRS-AIMIM 95
    TDP-Cong 21
    BJP 1
    OTH 2
  • Mizoram

    MNF 26
    Cong 5
    BJP 1
    OTH 8

* Total Tally Reflects Leads + Wins

Why disinvest profit-making Pawan Hans Ltd? Parliamentary panel asks government

By: | Published: August 10, 2017 10:45 PM

A parliamentary committee today questioned the government's decision to withdraw its stakes from the Pawan Hans Limited, a state-owned helicopter service provider, despite it being a profit making organisation.

pawan hans, pawan hans disinvest, helicopter, pawan hans news, pawan hans limited, helicopter service pawan hans, financial expressThe ministry of civil aviation is finalising the modalities of the procedure which will be sent to the Department of Investment and Public Asset Management (DIPAM) within a week. (Reuters)

A parliamentary committee today questioned the government’s decision to withdraw its stakes from the Pawan Hans Limited, a state-owned helicopter service provider, despite it being a profit making organisation. In October last year, the Cabinet Committee on Economic Affairs (CCEA) had given in-principle approval for strategic disinvestment of the Pawan Hans Limited (PHL).

The ministry of civil aviation is finalising the modalities of the procedure which will be sent to the Department of Investment and Public Asset Management (DIPAM) within a week. The Centre holds 51 per cent stake in the chopper firm while the remaining 49 per cent is with the state-owned Oil and Natural Gas Corporation (ONGC).

“The Committee fails to understand why strategic disinvestment has been started for Pawan Hans which is a profit-making organisation,” the Parliamentary Standing Committee on Transport, Tourism and Culture said in its report which was tabled in Parliament today.

The panel had earlier recommended that the Pawan Hans Limited be given Rs 600 crore as one time grant for its expansion plans.

In February, the state-run chopper operator paid Rs 5.52 crore to the government as dividend after it reported a net profit of Rs 36.08 crore for the 2015-16 fiscal year.

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