The Government has constituted a Group of Ministers to expedite the implementation of the revival package of Rs. 69 thousand crores for BSNL and MTNL, government companies in the telecom sector. This includes Defense Minister Rajnath Singh, Communications, Information Technology, and Law Minister Ravi Shankar Prasad, Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, Commerce and Industry, and Railways Minister Piyush Goyal and Oil, Natural Gas and Steel Minister Dharmendra Pradhan. This high-level Group of Ministers (GoM) can swiftly implement the recent decisions taken regarding the revival of Bharat Sanchar Nigam Limited (BSNL) and Mahanagar Telephone Nigam Limited (MTNL).

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According to sources, the revival package includes several important topics such as assessing the business competence of both companies, limiting the workforce through VRS, issuing bonds, monetization of assets and allocation of 4-G spectrum to BSNL. The GoM has been entrusted with the decision making by discussing all these.

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92,700 employees have applied for VRS
In October this year, the government had decided to revive a package of Rs 69 thousand crores for the merger of MTNL with BSNL. The decision was taken in a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi. In the last few weeks, both the state-run companies have implemented the Voluntary Retirement Scheme (VRS). Under which around 92,700 employees have applied to take VRS. This is expected to save Rs 8,800 crore annually in the salary bill of both debt-ridden companies. Apart from this, as a result of the monetization of assets of both companies, there is a possibility of receiving about Rs 37,500 crore in the next 3 years.

BSNL, MTNL have been facing losses for 9 years
BSNL and MTNL have been incurring losses for the last 9 years. MTNL only services Mumbai and Delhi. While BSNL provides communication services to the rest. Earlier, there was talk of disinvestment of both companies. But the government has considered it necessary to maintain a government company in the form of BSNL keeping in mind the needs of the defense sector and competition with private companies.

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