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GoM to examine if PIOs can invest in domestic aviation
Our Bureau
New Delhi
,
Jan. 19
THE divisions within the Union Cabinet on allowing Persons of Indian Origin (PIO) to invest in the domestic aviation sector has prompted the Government to refer the matter to a Group of Ministers (GoM).
Briefing newspersons after the Cabinet meeting, the Minister for Civil Aviation, Mr Praful Patel, said that a Group of Ministers headed by the Agriculture Minister, Mr Sharad Pawar, will examine the issue.
The move to allow PIOs to invest in the domestic aviation sector has been opposed by a host of Ministries. The Home Ministry, which is said to be against the move, has argued that there could be legal problems in taking action against PIO for any liability as they were not citizens of India. Similarly, the Ministry of Civil Aviation has maintained that the current civil aviation rules (CAR) do not allow investment by PIOs. However, the Ministry of External Affairs and the Finance Ministry are said to have expressed no objection to the proposal going through. The latest decision will delay the launch of a new private sector airline, Magic Air, being promoted by Ms Nira Radia, a PIO, which has been hanging fire close to a year now.
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