Pawan Hans: Government has decided to disinvest in Pawan Hans Tata, DIPAM gave this information.

Pawan Hans: The government canceled the decision of strategic disinvestment of Pawan Hans. The Department of Investment and Public Asset Management (DIPAM) of the Ministry of Finance gave this information on Monday. Last year, the empowered alternative mechanism by the Cabinet Committee on Economic Affairs (CCEA) on Friday allowed the highest bid of Star9 Mobility Pvt Ltd for sale of entire Government of India stake and transfer of administration control in Pawan Hans.

The government canceled the decision of strategic disinvestment of Pawan Hans. The Department of Investment and Public Asset Management (DIPAM) of the Ministry of Finance informed about this on Monday. Last year, the empowered alternative mechanism by the Cabinet Committee on Economic Affairs (CCEA) on Friday allowed the highest bid of Star9 Mobility Pvt Ltd for sale of entire Government of India stake and transfer of administration control in Pawan Hans. Union ministers Nitin Gadkari, Nirmala Sitharaman and Jyotiraditya Scindia were included in this alternative mechanism. The Government of India holds 51 per cent stake in Pawan Hans.

Company facing serious financial crisis for the past several years

Pawan Hans, the state-run helicopter company, has faced severe financial crisis in the last few years. It is the only company providing government helicopter service in the country. The more than three-decade-old company had incurred a loss of around Rs 69 crore in the financial year 2018-19. After this, in the year 2019-20 also the company had to bear a loss of about 28 crores. Due to this, the government had decided to sell its stake. However, now the government has changed its decision and the decision of disinvestment is currently in doubt.