The ailing public sector telco recorded a net profit of Rs 262 crore in Q3 this year, the first time since 2007. A deeper look shows this is not due to material improvements.
Since 2019, govt has pumped Rs 3.22 lakh crore into MTNL & BSNL. Both remain in losses. MTNL has begun to default on loans & bond payments, possibly the first large PSU to become NPA.
The VRS scheme, which closed Tuesday, will pay employees between Rs 30 lakh & Rs 1 crore, depending on pay scale & designation. But workers are still concerned.
The Atal Bihari Vajpayee government’s disinvestment record has still not been matched by any government. UPA government’s record has been relatively pathetic.
The telecom companies are unable to pay salaries, and a turnaround seems impossible. A bail-out for employees would be cheaper than what the govt pumps in.
In tactical terms, the shirtless protest was worse than a self-goal. Suddenly, the fiascos of the AI Summit were forgotten, and the Youth Congress’s disruption became the issue.
IAF is fine with accepting the aircraft with 'must-haves', even if some other steps remain pending, which may take at least another year, it is learnt.
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