The loss of government-owned telecom company Bharat Sanchar Nigam Limited (BSNL) increased 2.5 times to Rs 39,089 crore in the April-December period of 2019. Along with this, Minister of State for Communications Sanjay Dhotre told in Parliament that the public sector telecom company had a loss of Rs 14,904 crore in the last financial year 2018-19. Meanwhile, Dhotre said in a written reply to a question in the Rajya Sabha on Thursday that BSNL and MTNL cannot be privatized. Along with this, he informed that the government can present a revival package for loss-making companies.
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Last year announced a revival package for BSNL and MTNL and even VRS has been completed as part of the same. For the revival package, the government will raise about Rs 15,000 crore through bonds. Apart from this, the government is also planning to monetize assets worth Rs 38,000 crore over a period of four years. According to reports, it is expected that loss-making companies will save about Rs 8,800 crore from the voluntary retirement scheme (VRS scheme).
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About 78,569 employees of BSNL and 14,000 employees of MTNL have opted for the VRS scheme. It is expected that the reduction in the number of employees working will reduce the financial burden on the companies as there will be a huge reduction in the salary bill, which can result in financial support.
