BSNL’s revival plans to be delayed further
Rajesh Kurup Mumbai | Updated on September 19, 2019 Published on September 19, 2019
Ailing PSU pays August salary 18 days late
Bharat Sanchar Nigam Ltd’s (BSNL) revival plans may be delayed further, with the Cabinet unlikely to consider the debt-laden company’s turnaround proposals this week.
Meanwhile, the PSU has disbursed the salary for August on Wednesday, after a delay of 18 days.
“The Department of Telecommunications (DoT) is yet to submit the final proposal before the Cabinet, incorporating the changes sought by the Prime Minister’s Office (PMO) and the Telecom Ministry. Now, it would have to be moved to another date, unless DoT submits the proposal in the next two days, which seems highly unlikely,” a source, privy to the development, told BusinessLine.
“On its part, DoT is waiting for the Finance Ministry’s response on the draft cabinet memo. The Ministry’s response on BSNL revival proposal is not positive,” another source said.
According to the sources, once Finance Ministry gives its response, DoT will add its views and submit the proposal to the Cabinet.
A revival plan approved earlier recommended a ₹14,155-crore capital infusion into BSNL by the government to acquire 4G spectrum and a VRS for employees aged over 50, following which the age of retirement would be reduced to 58. Monetisation of land and funds for optical fibre cable and telecom towers roll out were also approved.
Published on September 19, 2019