BSNL eyes Rs 1,300 cr savings this fiscal after VRS becomes effective: CMD PK Purwar
State-owned Bharat Sanchar Nigam Ltd (BSNL) said on Tuesday that as many as 78,569 employees have opted for VRS, and added that it expects to save Rs 1,300 crore in wage bills this fiscal after the scheme becomes effective in January
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State-owned Bharat Sanchar Nigam Ltd (BSNL) said on Tuesday that as many as 78,569 employees have opted for VRS, and added that it expects to save Rs 1,300 crore in wage bills this fiscal after the scheme becomes effective in January
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Since VRS will start on 31 January, 2020, the savings of Rs 1,300 crore will accrue to BSNL, for the remainder of this financial year
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On merger with MTNL, BSNL CMD PK Purwar said discussions have started and boards of both the companies have met on a common platform
New Delhi: State-owned Bharat Sanchar Nigam Ltd (BSNL) said on Tuesday that as many as 78,569 employees have opted for VRS, and added that it expects to save Rs 1,300 crore in wage bills this fiscal after the scheme becomes effective in January.
"On the VRS (voluntary retirement scheme), on 31 January, 2020, it will be effective. Our goal is that people who have applied for VRS, their application should be considered and approved..." BSNL Chairman and Managing Director PK Purwar told reporters.
BSNL MD says identified land parcels worth Rs 20,000 cr for sale. Co to save Rs 7500 cr annually from VRS; may approach the market to raise funds in January if co gets govt nod pic.twitter.com/CdHiD3fuEV
— CNBC-TV18 (@CNBCTV18Live) December 17, 2019
On merger with MTNL, Purwar said discussions have started and boards of both the companies have met on a common platform.
"Our goal at this stage is network integration and operational synergies on which discussions have started," he said.
Since VRS will start on 31 January, 2020, the savings of Rs 1,300 crore will accrue to BSNL, for the remainder of this financial year.
On the statutory dues of the corporation arising out of the recent SC verdict on adjusted gross revenue, Purwar said, "We have asked the government that given financial stress scenario, the government can think of either reconsidering the dues or infusing equity of equivalent amount in BSNL to facilitate the payment."
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