Moneycontrol
you are here: HomeNewsBusiness
Last Updated : May 18, 2018 08:12 AM IST | Source: PTI

MTNL gets full time Chairman and Managing Director after 4 years

"PK Purwar is confirmed as CMD, Mahanagar Telephone Nigam Limited for the balance period of his tenure after expiry of first year on March 2, 2018," the Department of Telecom said in its order dated May 15, 2018.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

The government has confirmed appointment of P K Purwar as chairman and managing director of public sector telecom firm MTNL.

"PK Purwar is confirmed as CMD, Mahanagar Telephone Nigam Limited for the balance period of his tenure after expiry of first year on March 2, 2018," the Department of Telecom said in its order dated May 15, 2018.

The telecom PSU has been without a full-time CMD since May 30, 2014 when A K Garg retired from the post.

Purwar , then director (finance) at MTNL was given additional charge after Garg's retirement.

Later, the charge was given to Telecom Commission Member for services, Narendra Kumar Yadav on June 8, 2015.

Purwar was again given additional charge of CMD, MTNL after Yadav relinquished the top post on completion of his tenure on June 8, 2016.

Purwar, the Director (Finance) of MTNL, had earlier held the additional charge between June 2014 and June 2015.

Interestingly, Purwar's name had been recommended for the MTNL's top post by Public Enterprises Selection Board (PESB) in November 2013, but the government did not go ahead with the recommendation.

MTNL, which offers telecom services in Delhi and Mumbai circles, has been making losses since 2009-10.

MTNL's debt stands at a staggering Rs 17,000 crore, and its annual interest burden is close to Rs 1,450 crore. Bruised by a fierce competition from private sector players, MTNL's losses were pegged at Rs 2,893 crore in 2014-15 , Rs 2,005 crore in 2015-16, and Rs 2,970 crore in 2016-17.

The board of MTNL will meet on May 30 to consider and approve financial performance of the company for fiscal year 2018.
First Published on May 18, 2018 07:40 am
Loading...
Sections
Follow us on
Available On