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Cabinet Approves BSNL And MTNL Merger

by GoNews Desk 4 weeks ago Views 759
Cabinet Approves BSNL And MTNL Merger
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The Union Cabinet has decided to merge the loss-making telecom firms BSNL and MTNL, saying 'the merger will be operationalised gradually'.

Union Telecom Minister Ravishankar Prasad announced that a Voluntary Retirement plan will also be offered to the employees of BSNL and MTNL.

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According to the government, the revival package for BSNL and MTNL includes raising of Rs 15,000 crore sovereign bonds and monetising Rs 38,000 crore of assets in the next four years.

The government also stated that BSNL and MTNL will neither be closed nor disinvested nor sold to a private entity