New Delhi: The Narenda Modi government decided to sell its entire share in Pawan Hans Ltd despite the aviation ministry's view that the timing would not be right for a stake sale in the state-owned helicopter operator, three senior aviation ministry officials told ET.
This is a rare occasion when the central government has overlooked the view of the nodal ministry on divesting stake in a public sector undertaking, people familiar with the matter said. The Government of India, through civil aviation ministry, owns 51 per cent stake in the company, while the rest is owned by state-run Oil and Natural Gas Corporation. Set up in 1986, Pawan Hans is the largest helicopter operator in the country with a fleet of 42 choppers.
"In our view conveyed to NITI Aayog, we had said that the helicopter operator should be given some time before the government goes ahead with divestment, as it is working on expanding in the regional space through fixed-wing aircraft operations and seaplanes," said one of the officials, who did not wish to be identified. Another official questioned the timing of the move. "Perhaps the timing of disinvestment could have been better," he said.
04/02/17 Mihir Mishra/Economic Times
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This is a rare occasion when the central government has overlooked the view of the nodal ministry on divesting stake in a public sector undertaking, people familiar with the matter said. The Government of India, through civil aviation ministry, owns 51 per cent stake in the company, while the rest is owned by state-run Oil and Natural Gas Corporation. Set up in 1986, Pawan Hans is the largest helicopter operator in the country with a fleet of 42 choppers.
"In our view conveyed to NITI Aayog, we had said that the helicopter operator should be given some time before the government goes ahead with divestment, as it is working on expanding in the regional space through fixed-wing aircraft operations and seaplanes," said one of the officials, who did not wish to be identified. Another official questioned the timing of the move. "Perhaps the timing of disinvestment could have been better," he said.
04/02/17 Mihir Mishra/Economic Times
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