Headlines October 24, 2019
Government to merge BSNL & MTNL
The government has decided to merge the state run telecom operators Mahanagar Telephone Nigam Limited (MTNL) with Bharat Sanchar Nigam Limited (BSNL).
MTNL is the government owned telecommunications service provider in the metro cities of Mumbai and New Delhi, while BSNL provides telecommunications services to the rest of India.
The operators have been facing severe losses over the years and by merging them the government is paving the way for the revival of the companies and to make them profitable again.
As part of the revival plan, Voluntary Retirement Scheme (VRS) will be offered to the employees. As per reports, employee above the age of 53 and half years will be given 125% remuneration of the salary, pension and gratuity till the age of 60 if they opt for VRS.
Both the companies will work as one to create a better telecommunication network across the country including rural and remote areas. The government will raise ₹15,000 crore for bringing about the much needed in the new organization.
Minister of Home Affairs Amit Shah took to twitter to congratulate the Prime Minister for the step taken.
He tweeted, “I congratulate PM @narendramodi ji for taking unprecedented steps to revive BSNL & MTNL, also to make them more competitive. Funding of over Rs 20,000 Crore through capital infusion will be made and Sovereign guarantee for long term bonds of Rs 15,000 Crore will also be provided.”
20,140 crore more will be invested in MTNL and BSNL to equip them with additional spectrum that will enable them to deliver 4G services.
The twitter handle of BSNL India responded to the announcement made by telecom minister Ravi Shankar Prasad in this regard and tweeted, “Entire nation & #BSNL family is grateful to Shri Narendra Modi, Hon’ble PM @narendramodi, Shri Ravi Shankar Prasad, Hon’ble MoC @rsprasad and entire cabinet for strengthening BSNL by giving extraordinary revival package.”
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