Govt Will Not Shutdown BSNL; Rs 70,000 Crore Of Real Asset Will Be Used For Revival?
In a huge relief for BSNL employees, it has been clarified that BSNL won’t be shut down, and thus, 1.76 lakh employees will not lose their jobs.
Now, the question arises: How will BSNL revive itself, since the revival offer has been rejected by Govt. of India.
Will BSNL use their real assets worth Rs 70,000 crore?
BSNL Will Not Be Shut Down
Since last 4-5 days, rumors had been floating around that BSNL will be shut down, since Govt. has refused the Rs 74,000 crore revival package.
Employees threatened to strike and even PM Modi was asked to intervene.
However now, it seems that the shutdown news was just apprehension and not reality.
In a positive statement issued by BSNL, it was revealed that the state telecom company will not be shut down, and talks about revival package is already on.
In fact, as per the statement, BSNL may soon expand their 4G coverage, and network, and infuse more funds for expanding and improving their services.
Their statement said: “In this regard, it is clarified that there is a plan under active consideration for revival of BSNL by the government by giving suitable package in terms of VRS and 4G spectrum and allowing monetisation of assets available with BSNL,”
This year, BSNL failed to provide salaries to their 1.76 lakh employees, not once but thrice. Rs 14,000 crore is the debt which is weighing down BSNL.
How Will BSNL Revive Itself?
One of the new angles which has emerged about BSNL revival, is their strong assets.
BSNL owns land and property in real estate worth Rs 70,000 crore, and the value of their buildings are estimated at Rs 3800 crore.
Besides, they have have solid assets via towers installed. Their subsidiary: BSNL Tower Corp. Ltd (BTCL) owns 66,000 towers, one of the highest numbers globally.
In case Govt. agrees to unleash the revival package, then these real estate assets, and tower assets can be utilized.
In case BSNL’s revival package is accepted, then Govt. will need to spend Rs 74,000 crore which will include expenses for providing VRS and for 4G expansion.
In case BSNL is shut down, then 1.76 lakh jobs will be lost, and Govt. will need to spend Rs 95,000 crore.
We will keep you updated, as more details come in,