While presenting the general budget last July, Finance Minister Nirmala Sitharaman indicated the emphasis on "strategic disinvestment" of government companies. This means that the government can sell its entire stake in a public sector company. In the case of Pawan Hans, a Public Sector helicopter company, this attempt of the government does not appear to be effective.
Actually, the government wants to sell its entire stake in Pawan Hans but it is not getting the buyer of the way. This is the reason that for the third time in three months, the deadline for filing of interest (EOI) for Pawan Hans disinvestment has been extended. Earlier the deadline for filing EOI was till 26 September which has been increased to 10 October. Here, tell us that when a company or a person files an EOI, it is believed that they are willing to buy the auctioned company. The deadline for entering the EOI is extended in those situations when the selling company does not find any kind of buyer.
Actually, the public sector company Pawan Hans is continuously running in losses. The company said in a statement in the past that in 2018-19, it incurred a loss of about Rs 89 crore, the company has been given many other liabilities besides Rs 230 crore. In April amid the economic crisis of Pawan Hans, there were also reports that the company is unable to pay salaries to its employees. However, later clarification was given by Pawan Hans.
The government has a 51 percent stake in Pawan Hans. ONGC holds the remaining 49 per cent stake. If we talk on the basis of shares, then the government has 2 lakh 84 thousand 316 shares of the company. Similarly, ONGC has 2 lakh 73 thousand 166 shares. However, in July, the government issued a preliminary information memorandum to sell its entire 51 percent stake in the company. Explain that the government started the divestment efforts of Pawan Hans when ONGC did not show interest in taking the entire stake in the company in the last financial year.
What is the means of earning Pawan Hans?
According to the information given on the website of helicopter provider company Pawan Hans, the highest earnings have been made on an hourly basis in the year 2017-18. The company has earned 46 percent per hour in total income. Understand in easy language, every hour Pawan Hans rented his helicopter and earned 46 percent of the total income from it.
At the same time, 39% of total income has been earned from every month's rent or charges. Let us know that Pawan Hans takes a fixed amount every month from the companies or person to whom he has given his helicopter.
How much does the company spend on employees?
Pawan Hans spends the most money (39 per cent) on its employees. In the financial year ended on 31 March 2018, Pawan Hans spent a total of around Rs 17 thousand 263 crore in the name of salary and other allowances of his employees. In this, the company spent Rs 14 thousand 794 lakh on salary and allowances while Rs 2 thousand 304 lakh was spent in PF, pension and gratuity fund. A year ago, Pawan Hans spent 15 thousand 444 crore rupees on the employees.
