BSNL,
MTNL to be merged; Cabinet approves four-way revival plan
BSNL, MTNL to be merged; Cabinet approves four-way revival plan
“
Telecom Minister Prasad said that the administration needs to make these
organizations progressively aggressive.”
So
as to resuscitate misfortune making telecom PSUs BSNL and the administration
today chose to consolidate the two feeble firms as a component of a restoration
bundle that incorporates raising sovereign securities, monetizing resources and
willful retirement plot (VRS) for workers.
As
a major aspect of the restoration bundle, MTNL will be converged with BSNL.
Pending this, MTNL will go about as an auxiliary of BSNL. MTNL is recorded
however has its total assets previously dissolved. BSNL is unlisted.
Declaring
a four-stage recovery plan for the two organizations, telecom serve Ravi
Shankar Prasad said the government needs to make the two state-possessed telecom
organizations progressively aggressive by placing in Rs 29,937 crore.
Prasad
said the legislature will raise Rs 15,000 crore through sovereign bonds.
"Resources worth Rs 38,000 crore will be monetized in four years,"
Prasad included.
Prasad
likewise reported that the 4G range will be assigned to BSNL and MTNL. The
assignment of 4G range to them would be done at 2016 costs and officially.
He
likewise said that legislature will offer an appealing VRS bundle for
representatives in both the organizations.
Giving
a case of the VRS bundle, Prasad said any worker over the age of 53 and a half, who
chooses the VRS, will be given 125% compensation of the pay, benefits, and tip
till the age of 60.
BSNL,
which is yet to pay worker pay rates, has a month to month bill of Rs 850 crore
on this tally, and has a staff 1.76 lakh on its roll. BSNL has an expected loss
of Rs 14,000 crore in 2019 monetary.
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