The government’s decision to offload 10 per cent stake in BSNL is a case of too little and too late. The company has lost a lot of value over the past few years and so whatever the government gets now will be minuscule compared to what it could have got earlier — why would investors want to pay a high price for a firm which, but for its treasury incomes, is losing money on an operational basis? The government needs to professionalise BSNL and inquire as to why, despite its large network, the company’s market share continues to fall.
N Kumar, New Delhi
