Employees prefer strong corporate house take over Pawan Hans rather than colleagues
Some of the employees are among the potential bidders, which is allegedly not supported by majority of the employeesmumbai Updated: Dec 07, 2017 23:51 IST
Pawan Hans engineers, pilots and technicians have opposed the idea of employees bidding for the company after the Cabinet Committee on Economic Affairs (CCEA) in October 2016 gave in-principle approval for strategic disinvestment of Pawan Hans Limited (PHL). Today is the last day of bidding for the company’s 51% stakes, while the Expression of Interest (EOI) will open on December 28.
Some of the employees are among the potential bidders, which is allegedly not supported by majority of the employees. In a letter to the PHL chairperson on November 16, the All India Pawan Hans Helicopter Engineers Guild (AIPHEG) — body of bonafied Directorate General of Civil Aviation (DGCA) and licenced engineers — said “the biding purchase of 51% shares as per strategic disinvestment of PHL by the government is offered to the employees of PHL as per annexure 14 of preliminary information memorandum for inviting expression of interest is totally disagreeable to us.”
The government proposed to disinvest its entire equity shareholding of 51% in PHL through strategic disinvestment to investors, along with transfer of management control.
In another letter to PHL director on November 29 , joint secretary of ministry of civil aviation minister and the home ministry, (AIPHEG) favoured disinvestment of PHL. The letter stated, “We would like a strong corporate house to take over the reins from the present management to run it more efficiently. We are not in favour of the purchase of shares by the employees of PHL. The EOI being applied by few employees of PHL (non-technical support staff) should not be counted as our representation as we have not given any consent.”
Denying the allegation, Ram Kishan, head of corporate affairs and deputy general manager of information technology, PHL, said, “Most of the employees are with the management.”
A Pawan Hans official said, “While handful of pilots are supporting the management, majority of them have expressed their opposition. Technicians and engineers are of the opinion that the company will progress only if a private company takes over.”
A senior Delhi-based PHL official alleged, “PHL has insufficient pilots, technicians and engineer hence more pilots would be hired by the winning bidder, however non-technical staff who apparently are in access could face job issues. This seems to be the reason for the management to not be in favour of disinvestment.”
Sources said that interested PHL employees have approached the ministry to extend the deadline of EOI for a month in order to raise funds to bid for it.
First Published: Dec 07, 2017 23:51 IST