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Selloff Plan Has Left Pawan Hans Struggling To Stay Afloat
The government lined up profitable Pawan Hans for sale—three years later, the helicopter services provider hasn’t found a buyer.
14 May 2019, 04:07 PM IST
Prime Minister Narendra Modi’s government lined up a profitable Pawan Hans Ltd. for sale—about three years later, the state-run helicopter services provider hasn’t found a buyer. And it’s battling a crippling cash crunch.Things have come to such a pass that the company, 51 percent owned by the government, has run out of cash to pay employees. It’s not in a position to disburse salaries for April due to “uncomfortable financial positi...
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