New Delhi: The central government has started work on restructuring state-owned telecom companies BSNL and MTNL with the debt burden. In this regard, the telecom department has sent a proposal to the cabinet, in which there is a plan to invest Rs 74,000 crore for the revival of both companies. Of this, Rs 22,000 crore will be used for the 4G spectrum and voluntary retirement scheme (VRS). An official source said on Tuesday, Tuesday, that the move of the Department of Telecommunications (DoT) came after the appointment of a high-level committee to revive MTNL and BSNL.
The decision sent by the Telecom Ministry for the revival of BSNL and MTNL will go to the cabinet this month, which will include the opinion of all ministries including the finance ministry. It will also include the nodal ministry's response to questions, replies and comments made by several other ministries. The source said that the cabinet had asked DoT to look into the issues raised by the finance ministry and respond to it.
He told that we will send the proposal when the Cabinet Secretariat will include it on its agenda. According to the source, the total package is Rs 74,000 crore. Out of which 4G spectrum allocation fund will be Rs 22,000 crore (Rs 16,000 crore for BSNL and Rs 6,000 crore for MTNL). While the remaining amount will be for VRS, which will be borne by the companies. Explain that the government is also considering merging these two debt-ridden companies.