New Delhi: Two public sector telecom service providers BSNL and MTNL will not merge. The Government has taken a decision in this regard. The government has approved its revival plan. According to the plan, the two companies will be licensed to start 4G services across the country. This will provide an opportunity to improve the bad financial health of the two companies.
At a high-level meeting held on Tuesday, it was also decided that the two companies would prepare plans for the VRS and reduce the retirement age of its employees to 58 years to cut the number of employees. The PMO has deferred the decision to set up a Special Purpose Vehicle on a proposal to merge, sell loans and properties.
The two companies have approved the setting up of a joint committee to sell or rent properties. The committee will consist of officials from BSNL, DoT and Disinvestment Department. All these proposals will now be sent to the Cabinet for approval. With this government assistance, BSNL will get Rs 6365 crore and MTNL will get Rs 2120 crore for this item.
In lieu of this, the government will keep the bonds issued for 10 years as mortgages. BSNL currently has a liability of 14 thousand crore rupees and suffered a loss of Rs 31287 crore in the financial year 2017-18. The company currently employs 1.76 lakh employees. The VRS will make the number of employees 75 thousand in the next five years.
Now you can enjoy Kulhar Tea at malls and airports also, the government is preparing up!
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