Revival Plan (Generous financial assistance) approved by GOI for BSNL and MTNL, 4G Spectrum allocated to PSEs, Funding over Rs 20000 crore, Sovereign guarantee of 15000 crores and VRS cost to be bear by Government of India.
BSNL and MTNL is the Strategic Asset of India, Neither is being closed nor is being disinvested, says Hon’ble MoC Shri Ravi Shankar Prasad, and also expressed that these two PSU’s are going to be more competitive in market in coming days and also provides robust telecommunication network through India including rural and remote areas.
Today on 23.10.2019, Union Cabinet approves the revival plan of BSNL (Bharat Sanchar Nigam Limited) and MTNL (MahaNagar Telecom Nigam Limited) with the 4 way revival plan listed below
Allotment of 4G Spectrum to BSNL and MTNL
Administrative allotment of 4G spectrum to provide broadband and data services in India funded by Government of India through budgetary resources by capital infusion at a value of 20,140 crores + GST at 3674 crores
Sovereign Guarantee of Long term bonds
In part of revival plan, the two PSEs BSNL and MTNL will also raise long term bonds of Rs 15000 crores for which sovereign guarantee will be provided by Government of India to restructure existing debt and to meet CAPEX, OPEX etc.. requirements.
Attractive VRS to employee and Cost borne by GOI
Offers attractive VRS (Voluntary Retirement Scheme) to employees of BSNL and MTNL who aged 50 years and above, where the total cost (Ex Gratia, pension Gratuity and Commutation) will be borne by Government of India through Budgetary Support.
Assets Worth to be monetized
With this great news in the interest of nation (new revival plan or generous financial assistance for BSNL and MTNL), it is proved that Narendra Modi ji government will take care of employees and needs of people in India at any time.
Now, it’s the time of all BSNL and MTNL PSU employees shall strive hard and hard and help the Government in making these organizations more profitable and to regain the former glory.