BSNL is expected to provide salaries for May on time, which is the last working day of the month. “We are comfortable…We will be able to pay salaries on time this month,” BSNL CMD Anupam Shrivastava said.
The company has recently tied up with State Bank of India for a Rs 1,500-crore loan to meet its working capital requirements, based on a letter of comfort extended by Department of Telecom.
State-owned BSNL is confident of making timely payment of staff salaries for the month of May, Chairman and Managing Director Anupam Shrivastava said Monday. The company has also tied up with State Bank of India recently for a Rs 1,500 crore loan to meet its working capital requirements, based on a letter of comfort extended by Department of Telecom (DoT). “We are comfortable…We will be able to pay salaries on time this month,” Shrivastava told PTI.
New Delhi: After facing cash crunch for some months, state-run Bharat Sanchar Nigam Limited (BSNL) is expecting normalcy in cash flows in the second quarter (July-September) of FY20, according to the BSNL Director (Finance) who blamed the "predatory pricing" for the current crisis in the sector and in the BSNL.
New Delhi: The Department of Telecom is learnt to have circulated a draft cabinet note for the allocation of 4G spectrum to BSNL and MTNL and implementation of a voluntary retirement scheme at the two loss-making telecom PSUs.
The department has sought comments of the key ministries on the proposals, an official source told PTI.
Cash-strapped telecom player BSNL, which faced issues with salary payments last month, plans to hive off its fibre assets into a separate company, which is expected to have a valuation of Rs 10,000-15,000 crore.
BSNL has about eight lakh route km of fibre infrastructure across India compared with Reliance Jio with 4.78 lakh route km (including 178,000 route km that it acquired from Reliance Communications) and Airtel’s 2.46 lakh route km and Vodafone Idea’s 1.56 lakh km, according to estimates.
New Delhi: The government has released pending dues of Rs 171 crore to cash-strapped MTNL for paying February salaries to employees, a senior official said.
On the other hand, BSNL will clear salary dues of around Rs 850 crore by March 20 from its internal accruals. Both companies have failed to pay salaries of their employees for last month, according to employees' representatives.
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