New Delhi: 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.
Pawan Hans Ltd was one of the 28 central public sector enterprises (CPSEs) that had been approved for strategic disinvestment by the Cabinet Committee on Economic Affairs (CCEA), in November 2019.
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.”
In May 2022, the government had decided to sell 51 per cent stake in Pawan Hans to Star9 Mobility Private Ltd for Rs 211.14 crore.
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).
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.
