In a major relief, lakhs of BSNL employees are all set to get September month salary before Diwali, BSNL chairman and MD P.K. Purwar confirmed. 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.
On Monday, BSNL employee unions threatened to go on a day-long hunger strike on Friday over delayed salaries during the festival season and the government’s proposed move to shut down the two stressed PSUs in telecom sector. BSNL employees have resorted to these moves as their salaries for September month remain unpaid in the month of October.
"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," IANS quoted P.K. Purwar as saying.
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.
(With inputs from IANS)