BSNL-MTNL merger postponed: The merger of BSNL and MTNL has been postponed due to financial reasons. Government sources gave information about this.
BSNL-MTNL merger postponed: There is big news on the issue of merger of both BSNL (BSNL) and MTNL (Telecom) of the country. The government has now deferred the decision to merge these two companies (BSNL-MTNL Merger Postponed). According to PTI’s news, a group of ministers (GoM) headed by Defense Minister Rajnath Singh have postponed the merger of public sector telecommunications companies BSNL and MTNL due to financial reasons. . Government sources gave information about this.
69,000 crore revival package was approved (69,000 crore revival package was approved)
According to the news, the group of ministers approved the sale of six thousand sqm land of BSNL in Noida to the Central Board of Secondary Education (CBSE) at the rate of Rs one lakh per sqm. The cabinet had approved a revival package of Rs 69,000 crore for loss-making telecom companies BSNL and MTNL, including the approval of the merger of the two companies.
Too much loan due on MTNL (loan on MTNL)
According to an official source, the Group of Ministers has postponed the merger of MTNL and BSNL mainly due to excessive loans on MTNL. According to the results of the financial year ended 31 March 2020, the total liabilities of BSNL and MTNL were Rs 87,618 crore and Rs 30,242 crore respectively. The Department of Telecommunications has given license to BSNL to work in the telecom circles of Mumbai and Delhi, where MTNL already has operations.
The department said in the annual review of 2020 last year that a total of 92,956 employees of both the public sector companies opted for the voluntary retirement scheme (VRS) and retired on 31 January 2020.
