BSNL loss widens over 2.5 times to Rs 39,000 cr in Apr-Dec

NEW DELHI: State-owned telecom agency
BSNL‘s loss swelled by over 2.5 instances to Rs 39,089 crore throughout the April-December 2019 interval, Minister of State for Telecommunications Sanjay Dhotre has knowledgeable Parliament.

The public sector telecom agency had recorded a lack of Rs 14,904 crore within the earlier monetary 12 months 2018-19.

BSNL has knowledgeable that its whole accrued loss throughout the present monetary 12 months i.e. 2019-20 (upto December 31, 2019) is Rs 39,089 crore,” Dhotre mentioned in a written reply to a question within the Rajya Sabha on Thursday.

The authorities on October 23 final 12 months accepted a Rs 68,751-crore revival bundle for loss-making
BSNL and MTNL, together with 4G spectrum allocation and voluntary retirement scheme (VRS).

The Union Cabinet additionally accepted merger of the state-owned telecom corporations and until the completion of the method, MTNL will function as a subsidiary of
BSNL, Telecom Minister Ravi Shankar Prasad mentioned right here whereas sharing particulars of the revival bundle.

The bundle consists of elevating of Rs 15,000 crore sovereign bonds to satisfy the speedy capital requirement of each the businesses, 4G spectrum allocation value Rs 20,140 crore; Rs 29,937 crore for VRS overlaying 50 per cent of their staff; and Rs 3,674 crore for items and providers tax that will probably be levied on allocation of radiowaves.

Over 78,300
BSNL staff and 14,378 at MTNL have opted for VRS which is anticipated to considerably cut back monetary burden from each the businesses.

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