No, BSNL Is Not Shutting Down: Govt Will Allocate Rs 2500 Crore Emergency Salary Funds
Several mainstream news publications have reported that BSNL may soon shut down, and this entirely false news.
Yes, BSNL has no money to pay salaries for their 1.76 lakh employees, and they have said that it is impossible to run the operations now.
We have already reported this development about the troubles which state-run telecom carrier is facing right now, due to paucity of funds.
However, Govt is doing everything possible to ensure that BSNL doesn’t shut down, and we have evidence of the same.
Emergency Funds of Rs 2500 Crore For BSNL
After the news came in that BSNL has no money left for paying salaries of their 1.7 lakh workforce, Govt. machinery swung into action.
As per reports coming in, Govt. is trying to allocate an emergency salary fund of Rs 2500 crore for BSNL, which will be enough to support the salary of 1.7 lakh employees, and also run operations for the next 6 months.
Approximately Rs 800 crore is the expenses incurred by BSNL for the same, every month.
In order to allocate this emergency funding of Rs 2500, Govt. is in talks with major banks, for releasing an urgent loan.
If we believe the reports, then Govt will soon approve this loan, and BSNL will be getting the emergency funds to disperse the salaries of all employees.
Financial Troubles For BSNL Continues, But Hope Is There
Since the last couple of years, BSNL has been incurring intense financial losses, and they are a struggling Govt unit right now.
They have a total debt of Rs 13,000 crore as of now, and it is very tough for them to generate new sources of income.
As we reported a few days back, BSNL has admitted that they don’t have enough resources to pay the salaries.
In the month of February, it happened for the first time in 18 years that BSNL failed to disperse salaries, and this created quite a chaos, all over India.
However, there has to be a major revolution within BSNL, if they wish to survive, and more importantly compete against the likes of Airtel and Vodafone, Jio right now.
We will keep you updated, as more details come in.