BSNL: Govt choices to BSNL come with closure – Newest Information

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BSNL: Government options to BSNL include closure - Latest News
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NEW DELHI: The federal government has requested suffering state-owned telco BSNL to take a look at all choices, from a revival plan to disinvestment or even closure, because it appears to be like to take on the bleeding at India’s biggest loss-making PSU.

The route to the corporate – which had gathered losses of Rs 31,287 crore on the finish of 2017-18 – was once given following a gathering of best BSNL officers with telecom secretary Aruna Sundararajan, assets advised TOI.

BSNL chairman Anupam Shrivastava made a presentation to the telecom secretary, the place he gave information about the corporate’s monetary well being, its gathered losses, the have an effect on on trade following the access of Reliance Jio, and imaginable voluntary retirement scheme (VRS) and early retirement plans for workers.

Apparently, the federal government – whilst having a look at revival choices – additionally requested the corporate about an research if its trade was once close down. BSNL was once requested to put up “comparative research of all choices to be had with the federal government, i.e. strategic disinvestment of BSNL, closure or revival with monetary toughen”, assets stated.

BSNL stated, excluding festival, what’s tough for the corporate is its massive, getting older manpower. It spoke concerning the want to cut back this, both via a VRS or by way of bringing down the retirement age from 60 years to 58 years. “If the age of superannuation is diminished from 2019-20, there could be financial savings of roughly Rs 3,000 crore within the salary invoice.”

Referring to VRS, the corporate stated it’s going to goal workers elderly 56-60 years, that may make 67,000 workers eligible for it. “Assuming 50% of those workers (33,846) go for VRS, this shall lead to a saving of Rs 3,000 crore in wage invoice. The ex-gratia shall range from Rs 6,900 crore to Rs 6,300 crore for more than a few fitment.”

BSNL additionally prompt monetisation of the corporate’s massive land-bank and structures keeping, which is estimated to be price Rs 15,000 crore. It stated this might be carried out over the following two-to-three years by way of the dept of funding and public asset control (DIPAM).

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