All options for Pawan Hans' divestment being looked at: Official

The government is considering all options for divestment of its stake in state-run chopper operator Pawan Hans, a senior official said on Wednesday.

According to the Ministry of Civil Aviation's senior official, a proposal for the divestment of government's stake in Pawan Hans is in the "final stage of preparation".

The ministry's proposal will be sent to an "evaluation committee" within a week's time, the official said.

Presently, the government owns 51 per cent stake in the company, while the rest is held by ONGC.

The Cabinet Committee on Economic Affairs (CCEA) had given its 'in-principle' approval for the strategic disinvestment of the state-owned chopper operator on October 27, 2016.

In another related development, a meeting was held on Wednesday between senior ministry and Department of Investment and Public Asset Management (Dipam) officials to chart a way forward for divestment of government's stake in chopper operator Pawan Hans.

The meet was also attended by Civil Aviation Minister Ashok Gajapathi Raju and Minister of State for Civil Aviation Jayant Sinha.

The company was formed in 1985. Currently, it has a fleet of over 45 helicopters.

--IANS

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