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BSNL to save Rs 1,300 crore in FY20 with VRS offer

Bharat Sanchar Nigam Ltd said that as many as 78,569 employees have opted for voluntary retirement scheme

twitter-logoPTI | December 18, 2019 | Updated 00:25 IST
BSNL to save Rs 1,300 crore in FY20 with VRS offer

State-owned Bharat Sanchar Nigam Ltd (BSNL) said on Tuesday that as many as 78,569 employees have opted for VRS, and added that it expects to save Rs 1,300 crore in wage bills this fiscal after the scheme becomes effective in January.

"On the VRS (voluntary retirement scheme), on January 31, 2020, it will be effective. Our goal is that people who have applied for VRS, their application should be considered and approved..." BSNL Chairman and Managing Director P K Purwar told reporters.

On merger with MTNL, Purwar said discussions have started and boards of both the companies have met on a common platform.

"Our goal at this stage is network integration and operational synergies on which discussions have started," he said.

Since VRS will start on January 31, 2020, the savings of Rs 1,300 crore will accrue to BSNL, for the remainder of this financial year.

On the statutory dues of the corporation arising out of the recent SC verdict on adjusted gross revenue, Purwar said, "We have asked the government that given financial stress scenario, the government can think of either reconsidering the dues or infusing equity of equivalent amount in BSNL to facilitate the payment."

ALSO READ:Relief for employees as BSNL credits Oct salary; Nov payments to be delayed

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