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BSNL staff to get salary before Diwali: Purwar
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SME Times News Bureau | 15 Oct, 2019
With its employee unions threatening a day-long hunger strike on Friday
over delayed salaries during the festival season, state-run Bharat
Sanchar Nigam Ltd (BSNL) has said that it is hopeful of paying salaries
to its 1.76 lakh employees for September before Diwali.
"We will
give salaries to the employees before Diwali from our own resources on
accruals. We generate Rs 1,600 crore a month revenues from services,"
BSNL chairman and MD P.K. Purwar told IANS.
BSNL's per month
salary payout is Rs 850 crore. Though it generates about Rs 1,600 crore
per month in revenues, the amount is not enough to cover the wages as a
major portion of the proceeds is required for operational expenses and
statutory payments, sources said, adding that the PSU has been trying to
raise funds from bank through government guarantees, which it is yet to
get. The PSU also has to clear vendors dues from the internal accruals.
The telco posted a net loss of 13,804 crore in FY19. The
induction of 4G spectrum and a voluntary retirement scheme to cut its
huge work force, can lessen its financial woes but these may take time
even though they are on the government's priority list, said Purwar.
The
Finance Ministry and the PMO are in favour of Rs 50,000 crore capital
infusion for revival of the BSNL and MTNL, the state-run telcos.
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