TIL Desk/Business/New Delhi/ The proceeds of monetisation of assets of the state-run telecom majors BSNL and MTNL will be used to service the debt of these public sector undertakings, (PSUs) and fund a vountary retirement scheme (VRS), as per a decision of the government.
This was decided at last week’s meeting of the Prime Minister’s Office (PMO) and the Department of Telecom (DoT) chaired by the PMO Principal Secretary Nripendra Mishra on the matter of revival of these PSUs. “DoT to pursue and lead the phased monetisation of assets of BSNL and MTNL. DIPAM will actively facilitate the entire process and the monetisation plan should be finalised by the Niti Aayog CEO”, according to the minutes of that meeting.
“The proceeds of monetisation should inter alia be utlised for funding the VRS and servicing the debt of the two PSUs”, it further said. BSNL and MTNL have debts of Rs 15,000 crore and Rs 20,000 crore, respectively. DoT was suggested to closely monitor the performance parametres of both BSNL and MTNL. It was felt that the efficiency parametres have neither been effectively evolved, or are nor being monitored. Serious efforts on revamping the PSUs were lacking, the note said.
