PMO sets up committee to examine financial crises faced by domestic airlines
09 Jul 2008
New Delhi: Prime minister, Dr Manmohan Singh has approved constituting a committee to examine various issues related to the financial crises being faced by domestic airlines. This was communicated to the ministry of civil aviation by the cabinet secretariat today.
According to the secretariat, the prime minster had only recently reviewed developments of the civil aviation sector, acting on the advice of the ministry of civil aviation, which had suggested that a committee could examine various issues relating to the financial crises being faced by the domestic airlines.
- The new committee will comprise the following members:
- The cabinet secretary, chairperson,
- secretary, finance
- secretary, ministry of civil aviation,
- secretary, Department of Revenue,
- secretary, ministry of petroleum & natural gas,
- secretary, planning commission,
- Dr. Deepak Parekh, chairman, HDFC
- Dr. Raghuram, prof. IIM, Ahmedabad.
The terms of reference of the committee are as follows:
(a) Examine and assess the financial difficulties being faced by airline operators in India.
(b) Consider international scenario/practices followed by other countries/airlines.
(c) In the light of (a) & (b) above, make appropriate short term, as well as long-term, recommendations for the sustained growth and health of the aviation industry.
The committee has been asked to submit its recommendations at the earliest possible.
The necessary action for setting up the committee will be taken by the ministry of civil aviation and its report will be sent to the prime minister's office after finalization.
Welcoming the decision, civil aviation minister, Praful Patel said ''The ministry of civil aviation looks forward to the advice of this committee which has been formed pursuant to our meeting with the prime minister on one of the most important issues presently affecting the civil aviation sector that has led to the slowdown in the growth sector and losses for the domestic airlines.''
.jpg "RBI keeps repo rate unchanged as focus remains on inflation")
.jpg "Indian Oil, Panasonic team up for lithium-ion cell production in India")
