Pawan Hans sale: Chopper operators' union opposes move, writes to PMO to look at IPO instead
Stating that the Pawan Hans is a profit-making entity since its inception and has been paying dividend each year, the union said "as per existing disinvestment policy, those units having a positive net worth, no accumulated losses and having earned net profit for three preceding consecutive years be required to achieve the mandatory listing norms of 25 per cent public holding for listing on the stock exchange..." Pawan Hans has been paying dividends to both government and ONGC, it said, adding, "total dividend it has paid out till date is Rs 2,345 crore from 1995-96 to 2015-2016 while the total taxes paid stand Rs 480 crore during this period."
Pawan Hans sale: In a letter to the Prime Minister last week, Pawan Hans Helicopters union has suggested to the government to go for a public issue. Image source: Reuters