Tuesday, December 07, 2021

Pawan Hans employees oppose disinvestment plan

Pawan Hans is a joint venture between the Central Government and ONGC with the former holding 51 per cent stake and latter the rest 49 per cent.

By: PTI | New Delhi |
February 7, 2017 12:57:54 pm
Pawan Hans, Helicopter service operator, Government, Government Pawan hans, pawan hans stake, pawan hans stake selling, business news The aviation entity’s employees union has written to the PMO seeking its intervention.

Urging the Government to reconsider its “shocking” decision to offload its entire 51 per cent stake in profit-making Pawan Hans Ltd, the aviation entity’s employees union has written to the PMO seeking its intervention. In a letter to Prime Minister Narendra Modi’s Principal Secretary Nripendra Mishra last week, the All India Civil Aviation Employees Union (AICAEU) said the decision has been taken at a time when the Government aviation PSE is acting as a “price regulator” by offering air connectivity to the remote parts of the country at an “affordable” cost.

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Pawan Hans is a joint venture between the Central Government and ONGC with the former holding 51 per cent stake and latter the rest 49 per cent. It has more than 900 employees with half of them on permanent rolls. “We would like to seek your kind intervention regarding decision of Government for proposed 100 per cent strategic sale of Pawan Hans Ltd, a profit-making PSE…It is really shocking and surprising for Pawan Hans (employees) that it has been listed in the list of sick PSUs, which have been selected for 100 per cent strategic disinvestment, based on recommendations of Niti Ayog, despite the fact that it is a profit making PSU and makes regular dividend to Government,” AICAEU, the employees union of Pawan Hans, said in the letter.

According to the union, Pawan Hans has paid a dividend of Rs 235 crore to the Government and ONGC till date. The government has already announced its plans to sell its stake in the firm and transfer the management control of the helicopter service operator. Pawan Hans earned an operating profit of Rs 61.6 crore in the last financial year. Last week, it paid a total dividend of Rs 10.82 crore to the government and ONGC. Set up in 1985, Pawan Hans currently has a fleet of 46 helicopters.

“Pawan Hans being a CPSE is providing the most affordable helicopter services in the country and is a lifeline for the North-eastern region, it said, adding, “being a government organisation, it has also become a price regulator for the industry.”

“We would like to meet you on this crucial issue. We would request you to kindly spare some time for us (in this regard),” the Union said in the letter.

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