New Delhi, Oct 23 (UNI) The government has shut down the financial sector's public sector telecommunications companies Bharat Sanchar Nigam Limited (BSNL) and Mahanagar Telephone Nigam Limited (MTNL). The merger has been approved in principle on Wednesday, and Rs 15,000 crore will be obtained through bonds and Rs 38,000 crore through the sale of assets for the revival of Prime Minister Narendra Modi.
The proposal was approved at a cabinet meeting chaired by the president. Communications, Electronics and Information Technology Minister Ravi Shankar Prasad while talking to journalists reporting the decisions taken at the meeting, said that I would like to thank the BSNL and MTNL for approving the package. Yes Now the employees of these two companies will have the responsibility of making them profitable and said that the VRS package has also been approved for the employees. The government has also decided to give 4G spectrum on the basis of administrative allotment to these companies which will be given at the 2016 spectrum price. In addition to this, the government will get Rs 15,000 crore through bonds for financial assistance and Rs 38,000 crore will be earned by selling the assets of these two companies.
The government wants to make the two companies professional and competitive, he said. So these decisions have been taken. The government never intended to close or sell or invest in these two companies.
It is noteworthy that MTNL provides services in Delhi and Mumbai while BSNL provides services across the country excluding these two cities. Both companies face competition and heavy economic hardship.
The proposal was approved at a cabinet meeting chaired by the president. Communications, Electronics and Information Technology Minister Ravi Shankar Prasad while talking to journalists reporting the decisions taken at the meeting, said that I would like to thank the BSNL and MTNL for approving the package. Yes Now the employees of these two companies will have the responsibility of making them profitable and said that the VRS package has also been approved for the employees. The government has also decided to give 4G spectrum on the basis of administrative allotment to these companies which will be given at the 2016 spectrum price. In addition to this, the government will get Rs 15,000 crore through bonds for financial assistance and Rs 38,000 crore will be earned by selling the assets of these two companies.
The government wants to make the two companies professional and competitive, he said. So these decisions have been taken. The government never intended to close or sell or invest in these two companies.
It is noteworthy that MTNL provides services in Delhi and Mumbai while BSNL provides services across the country excluding these two cities. Both companies face competition and heavy economic hardship.
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