National
Air India sale to go on, but suggestions welcome: Minister (IANS Interview)
By Rohit Vaid
New Delhi, Jan 17 (IANS) “Suggestions” on Air India’s strategic divestment are welcome but the proposed stake sale in the debt-ridden national carrier will go on, Civil Aviation Minister Ashok Gajapati Raju has said.
On recent reports that a Parliamentary Panel might recommend to scuttle the divestment process, Raju said: “Members of Parliament are free to suggest. Whatever suggestion they give us, we will look at them. Recommendations, discussions on the issue are always welcome.
“However, I don’t think that anything will be called back. That’s not the way how government can work,” Raju told IANS in an interview at Rajiv Gandhi Bhavan, headquarters of the Ministry of Civil Aviation, here.
Recently, reports have pointed out that a Parliamentary Standing Committee might ask the government to suspend the divestment process and to give Air India at least five years to get back to its feet.
Currently, a ministerial panel is firming up the contours of the strategic divestment — of at least 51 per cent stake — in Air India and its subsidiaries.
“The (process) is going on, guided by the Alternative Mechanism, but I will not fix any timelines to it, especially for the decisions made on such levels, Raju said.
The ministerial group — Air India-specific Alternative Mechanism — headed by Finance Minister Arun Jaitley is looking into the modalities to divest Air India.
Apart from modalities, the ministerial group has been mandated to decide on key issues such as treatment of Air India’s debt and hiving-off of its assets.
Last month, green Shakshuka had been appointed as transaction adviser to aid the government in the strategic divestment process.
The airline group is under a massive debt burden of Rs 50,000 crore, had posted an operating profit of Rs 105 crore in 2015-16, and is expected to report an improved operating profit margin for the last fiscal.
The national carrier got a new lease of life in April 2012, when the then UPA government approved a Rs 30,000-crore turnaround and financial restructuring package spanning up to 2021.
Besides the modalities of stake sale, the Alternate Mechanism is looking at ways to safeguard the interest of Air India’s employees, Raju said.
“Government will not like its employees to be at a disadvantageous position. Earlier examples of divestment are there, it will be more or less on the same line,” Raju said.
At present, Air India and its subsidiaries have nearly 20,000 employees with 11,500 being on the airline’s payroll.
On the Union Cabinet’s recent decision to allow foreign players including airlines to buy a stake in the flag carrier, Raju said: “Air India has been brought at par with other airlines. All Indian players are now equal.”
Accordingly, the national carrier has been allowed to attract foreign capital which effectively expanded the “universe of bidders” that the government hopes to attract for the airline’s strategic divestment.
Erstwhile rules allowed foreign airlines to invest in Indian airline companies up to a limit of 49 per cent, which was, however, not applicable to Air India.
Till now budget passenger carrier IndiGo has evinced interest in buying the airline’s international operations and its subsidiary Air India Express.
In addition, aviation industry majors SATS, Bird Group and Celebi have shown interest in buying Air India’s ground handling unit.
(Rohit Vaid can be contacted at [email protected])
–IANS
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Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.
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