HAL has paid dividends of Rs 9,000 crore to government since 2003-04; Rs 6,000 crore went in 2 buy-backs | India News


BENGALURU: The Hindustan Aeronautics Constrained (HAL), which is awaiting payments of dues owed to it by the ministry of defence (MoD), has paid out Rs 9000 crore to the Centre in dividends in between 2003-04 to 2017-18, with extra than 50 per cent of it having been paid in the previous five several years.

Of the actual Rs 8,996 crore paid as dividend, Rs 4,366 was gathered by the Centre in 10 a long time in between 2003-04 and 2012-13. In the next 5 several years, Rs 4,630 was distributed as dividend to the government.

Also, for the 1st time in HAL’s 75-several years additionally record, the company returned Rs 6,393 crore in two acquire-backs, the two of which have been accomplished in the final 3 years. The first obtain-back of Rs 5,265 occurred in 2015-16. The next was in 2017-18, when HAL paid Rs 1,128 crore.

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“This was the to start with time the government did a obtain-back again, and this most certainly influenced the funds of HAL,” Suryadevara Chandrashekhar, basic secretary, HAL Staff members Association, and main-convenor of the All India HAL Trade Union Co-ordination Committee claimed.

Jointly, in the 5 a long time between 2013-14 and 2017-18, HAL paid out the Centre a complete of Rs 11,013 crore, which is far more than double of what the defence PSU compensated in the 10 decades before 2013-14.

Suryadevara stated that the second purchase coming at a time when HAL’s clients experienced stopped creating payments strained the firms funds in hand, forcing it to devote far more than it experienced anticipated.



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