Pawan Hans

Context:

  • The government recently approved the sale of its stake in Pawan Hans Ltd. along with transfer of management control to an entity called Star9 Mobility Pvt. Ltd. at a price of ₹211.14 crore, pegging the firm’s total value at ₹414 crore.

About:

  • The government holds 51 per cent stake in Pawan Hans, which has a fleet of 43 helicopters. The remaining 49 per cent stake is with Oil and Natural gas Corporation (ONGC). 
  • It incurred losses for three successive years from 2018-19 to 2020-21. Pawan Hans has a fleet of 42 helicopters, 41 of which are owned by the firm and have an average age exceeding 20 years.

Government’s Disinvestment Policy:

  • The government declared in May 2020 as part of the ‘Aatmanirbhar Bharat Abhiyan’ package that there will be a maximum of four public sector enterprises in strategic sectors, with state-owned corporations in other segments eventually being privatised.
  • Apart from private sector companies, a list of strategic sectors including at least one and a maximum of four public sector enterprises would be announced under the programme.
  • In other industries, central public sector companies (CPSEs) will be privatised if it is feasible.

Source: THE HINDU.

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