Govt to exit Pawan Hans : The Tribune India

Join Whatsapp Channel

Govt to exit Pawan Hans

NEW DELHI:After setting the process rolling for the strategic sale of state-run airline, Air India, the government today made a move to sell its entire 51% stake along with management control in helicopter service operator Pawan Hans Ltd.



Tribune News Service

New Delhi, October 13

After setting the process rolling for the strategic sale of state-run airline, Air India, the government today made a move to sell its entire 51% stake along with management control in helicopter service operator Pawan Hans Ltd.

It came out with a notice inviting bids from private companies, including foreign ones, to buy out the government’s share.

The Miniratna PSU, which is under the administrative control of the Civil Aviation Ministry, was incorporated on October 15, 1985 as the Helicopter Corporation of India (HCI), the country’s national helicopter company with the objective of providing helicopter support services to the oil sector for its off-shore exploration operations, services in remote areas and charter services for promotion of tourism.

While initially the government owned the enterprise with 78.5% stake in government hands and 21.5% with ONGC, the latter upped its stake to 49% recently, a move that saw the equity base of PHL being enhanced to Rs 245 crore from Rs 113 crore.

Strategic divestment 

The government proposes to disinvest its entire 51% shareholding in Pawan Hans Ltd along with transfer of management control

Top News

Fire in Kuwaiti building housing workers kills 35

40 Indians among 49 killed as massive blaze engulfs building in southern Kuwait's Mangaf

PM Modi sends Minister of State for External Affairs Kirti V...

PM Modi holds high-level review meeting on Kuwait fire tragedy

PM Modi holds high-level review meeting on Kuwait fire tragedy

Most Indians who died in the fire are learnt to be from Kera...

Terror attack on SOG camp in J-K’s Doda; 4th such attack in Jammu region in 3 days

Cop injured in terror attack on SOG camp in Doda; 4th such attack in Jammu region in 3 days

Series of attacks began on June 9 when terrorists attacked a...

3 security personnel injured in encounter in J-K’s Doda; suspected terrorist killed in Kathua

Terrorist, CRPF jawan killed in J-K’s Kathua; 6 security personnel injured in Doda encounter

In Doda district, 5 troopers of Rashtriya Rifles and an SPO ...

T20 World Cup: Arshdeep records career-best 4/9 as India restrict USA to 110/8

T20 World Cup: India beat spirited USA by 7 wickets, enter Super 8

Pacer Arshdeep Singh, batter Suryakumar Yadav script emphati...


Cities

View All