Finance Ministry rejects BSNL’s Revival Package.

18 Sep

Finance Ministry rejects BSNL’s Revival Package.

The Union Ministry of Finance rejected the much-anticipated package to revamp the public sector telecommunications company Bharat Sanchar Nigam Limited (BSNL). The package was formed by the cabinet subcommittee headed by Minister for Home Affairs Amit Shah. It was rejected by the finance ministry pointing out that no funds can be allocated for the same.

The ministry also directed to submit a new package. The direction came after the then Cabinet Secretary Nripendra Misra completed the procedures to table the package before the cabinet and handed it over to the Ministry of Finance. Later, Nripendra Misra resigned from service.

Finance Minister Nirmala Sitharaman also was part of the committee which finalised the package. However, it was rejected when it was handed over to the Finance Ministry.

The package gave importance to the voluntary retirement scheme based on the evaluation that there is excess of staff in the company. But the finance ministry made it clear that it cannot grant funds for the scheme.

Another recommendation was to allot fund from the government to provide 4G spectrum for BSNL. However, the ministry opposed this also and suggested that the BSNL should find the funds for the same.

[Courtesy : Mathrubhumi online dated 16-09-2019]

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