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BSNL And MTNL Merger
The merger of BSNL and MTNL, approved by the Union cabinet in October 2019, was a part of the revival package for both the telecom companies
The government is set to amend its security clearance policy for investors participating in privatisation or strategic divestment in PSUs. Read today's top news with Business Standard
The Rs 8,000 crore eligibility criteria is in line with CVC guidelines which say that vendors should have strong financials. The turnover of almost all the firms under TEPC is less than Rs 1,000 cr
An official said, "All dues and pending salaries of BSNL and MTNL staff have been paid and the first tranche of the VRS package worth Rs 5,000 crore has been released."
In October, the Union government approved a Rs 69,000 crore revival package for BSNL and MTNL
It has set up of an inter-ministerial group that would shortlist and prioritise sale of real estate assets of the cash-strapped company
Pension may be revised if the said basic pay is revised on account of pay revision of serving employees
Both companies are strategic assets and the government would make them more professional and profitable, he emphasised.
Telco says BSNL and MTNL, which are arms of DoT, also paid licence fee on the same basis
Sources said there was a one-month lag in salary payments of BSNL employees and two months for MTNL staff
The pending payments are against the supply of telecom gear and other goods to BSNL and MTNL
The two firms will monetise assets worth Rs 37,500 crore in the next three years
The entire exercise for installing a model commercial entity, with many differing components of finance, HR, marketing would need a lead minister and a capable team to shape a progressive company
Here's a quick look at key decisions taken by the Union Cabinet
Proposed measure might create some competition for private players and contain state-owned telcos' operational costs
Both state-run firms are facing major financial stress due to stiff competiton and high employee costs
One of options entailed MTNL focusing on turnaround with support from the govt and shareholders and seeking opportunities "to sell and divest select business assets"