The Department of Investment and Public Asset Management (DIPAM) said that the government has called off the strategic disinvestment of Pawan Hans.
Pawan Hans is a national helicopter carrier in India that was started in October 1985. The flagship helicopter service provider of the government of India evolved into south Asia’s largest helicopter company that maintains and operates a fleet of 43 helicopters. According to its website, which was last updated in 2020, the company had logged one million flying hours and planned to operate 100 helicopters by 2027
Minister of State for Finance and Corporate Affairs at the time, Anurag Thakur informed the Lok Sabha that the disinvestment was guided by the economic principle that the centre did not need to continue conducting business in sectors where competitive marketing had “come of age.”
Members of the Congress party had heavily criticised the government for choosing to disinvest Pawan Hans, they argued that it would have been more beneficial to merge with Oil and Natural Gas Corporation Limited (ONGC).
Congress spokesperson Gaurav Vallabh stated that the Centre had 51 per cent stakes in the company while the remaining 49 per cent was with ONGC. He asked, “Did the government explore merging Pawan Hans with ONGC, keeping in mind they already have a 49 per cent stake and Pawan Hans plays a very strategic role with ONGC, HAL etc?”
Pawan Hans has grown significantly since then. In February 2023, the company launched its helicopter services for several sectors connecting four major cities in Assam. The aim of this is to boost tourism in the northeastern state.
First Published: Jul 03 2023 | 3:38 PM IST
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