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Last Updated : Oct 11, 2019 06:13 PM IST | Source: Moneycontrol.com

Plans to revive company under Centre's active consideration: BSNL

BSNL said the plan entails a reasonable package comprising components like a voluntary retirement scheme (VRS), 4G spectrum and allowing monetisation of assets available with it

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Bharat Sanchar Nigam (BSNL) said a revival plan for the crisis-ridden telecom player is under the government's active consideration.

Revealing details of the plan, the state-owned company said it entails a reasonable package comprising components like a voluntary retirement scheme (VRS), 4G spectrum and allowing monetisation of assets available with it.

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"..it is clarified that there is a plan under active consideration for revival of BSNL by Government of India by giving suitable package in terms of VRS/4G spectrum and allowing monetisation of assets available with BSNL," it said in a statement.

BSNL said it has served the nation especially during difficult times of natural calamities, and provides affordable services throughout India even at remote corners.

"We shall continue to do so in future," it added.

Distressed telecom firms Mahanagar Telephone Nigam Ltd (MTNL) and BSNL have been incurring losses and have been facing problems in clearing staff salaries in the recent past.

BSNL's loss is estimated to be around Rs 14,000 crore with a decline in revenue to Rs 19,308 crore during 2018-19.

The public sector firm's provisional loss was Rs 4,859 crore in 2015-16, Rs 4,793 crore in 2016-17, Rs 7,993 crore in 2017-18 and is estimated to swell to Rs 14,202 crore in 2018-19, according to information presented in Parliament. The number of employees in BSNL stood at about 1,65,179.

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First Published on Oct 11, 2019 08:55 am
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