As of 30 June, the state-run telecom company's total debt stood at ₹34,484 crore. In Delhi, 14 out of MTNL's 41 land and building parcels remain vacant.
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.
Telecom Minister Ravi Shankar Prasad announced the merger and the revival package, which will include the 4G spectrum allocation and a voluntary retirement scheme.
From Munir’s point of view, a few bumps here and there is par for the course. He isn’t going to drive his dumper truck to its doom. He wants to use it as a weapon.
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