[<<Fast forward to 2019, the Bengaluru-based Navratna PSU is back in the news – albeit for wrong reasons. On the one hand, the company’s finances are in shambles, while, on the another hand, Defence Minister Nirmala Sitharaman, in defense of controversial Rafale Deal, is questioning the credibility of the prestigious PSU, that supplied over 6,000 aircraft to Indian armed forces. ... “The company has made aircraft when probably India couldn’t even make sewing machines,” said a former chairman of the defence PSU, stating example of HAL Dhruv and how it was far above the expectations of the armed forces. ... Many IAF pilots, who have flown combat aircraft, vouch for the capabilities of HAL. A former IAF Test Pilot is aghast at Nirmala’s defense on Rafale deal. “This government is basing their facts on mathematical manipulation. HAL is quite capable of doing a project like Rafale. If they can deliver us 250 Su-30 MKis, what is the problem in delivering other aircraft,” he told DH. Su-30 MKi and Dassault Rafale are both fourth generation combat aircraft. Fourth-generation designs are heavily influenced by lessons learned from the previous generation of combat aircraft. Long-range air-to-air missiles, originally thought to make dogfighting obsolete, proved less influential than expected, precipitating a renewed emphasis on manoeuvrability. ... The company’s trade receivables are 13.57 times that of the company’s cash reserves, at the end of September 30, 2018. While the cash reserves of the company have depleted to Rs 725.3 crore at the end of the first half of the current financial year, its trade receivables have bulged to Rs 9,845.07 crore at the same time. ... Just one-and-a-half years ago, since the day officials within the company say that armed forces stopped payments, the company’s trade receivables were just 0.38 times its cash balance. In the past one-and-a-half years, the company has bled 93.5% of its cash reserves to sustain itself, while its receivables have jumped by 133.8%. According to company sources, the Indian armed forces, which constitute 90% of the HAL’s revenues, owe it a whopping Rs 15,700 crore! ...>>]
https://www.deccanherald.com/business/government-s-apathy-pushing-712869.html?fbclid=IwAR0sXa9b1R4j5I73zVfXL9pjSDBtxRj7VbOW3F7GYVANM9cf8k2IVyoUeOQ Government’s apathy is pushing HAL to the brink Furquan Moharkan, DH News Service, Bengaluru, JAN 13 2019, 19:16PM IST UPDATED: JAN 14 2019, 07:25AM IST Snipped -- Peace Is Doable -- You received this message because you are subscribed to the Google Groups "Green Youth Movement" group. To unsubscribe from this group and stop receiving emails from it, send an email to greenyouth+unsubscr...@googlegroups.com. To post to this group, send an email to greenyouth@googlegroups.com. Visit this group at https://groups.google.com/group/greenyouth. For more options, visit https://groups.google.com/d/optout.
