Public sector telecom company Bharat Sanchar Nigam Limited (BSNL) expects to save Rs 1300 crore in the current financial year. This potential savings will be due to the voluntary retirement scheme (VRS) of BSNL. Please tell that 78,569 employees of BSNL have opted for VRS. This scheme will come into effect from January.
What did the chairman of BSNL say?
BSNL Chairman and Managing Director PK Purwar said, "The Voluntary Retirement Scheme (VRS) will come into effect from 31 January 2020. Our aim is to consider and approve those who have applied for VRS." He said that due to this, the company will save Rs 1,300 crore in the salary period for the remaining period of the current financial year.
What did you say on the merger with MTNL?
Regarding the merger with MTNL, Purwar said that discussions have started and a meeting of the board of directors of the two companies has taken place. He said, "Our goal at this time is on network integration and synergy in operations. Discussion has started about this. "
Let me tell you that a revival package of Rs 69,000 crore for BSNL and MTNL was announced by the government in the past. This includes merging the two loss making public telecom companies and giving VRS to the employees. The objective of this step is to bring the post-merger entity to profit in two years.
Also, about the Supreme Court recent decision on Adjusted Grass Revenue (AGR), regarding the outstanding dues on the company, Purwar said, "Given the financial pressure scenario, we have asked the government to reconsider the recovery of dues or to the company which Amount has to be given, it has been asked to put equity capital equal to equal amount.
