BSNL to Finally Start Crediting Employee Salaries on July 1 After Receiving Payments from the Government

Bharat Sanchar Nigam Limited (BSNL) has been facing a cash problem for the last three months or so, which has been the reason for the delay in the disbursement of salaries to its employees. However, in a new update, the cash-strapped telecom operator has said that its 1.65-lakh workforce will receive its wages for the June month in the coming days, as per an ET Telecom report. According to the telecom operator, the government owes BSNL about Rs 14,000 crore and it has sufficient cash flows to meet these ends. An official of BSNL revealed that the company has enough cash flow and that the Department of Telecommunications (DoT) owes the amount to the company.

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BSNL’s Payment Receivables from the Government to Help Distressed Telco

As per the telco’s statement, the salaries of BSNL employees will be credited on July 1. It is worth noting that BSNL’s financial problems have become increasingly troublesome since February; since that is the month when the telco started missing salary payments and also missed payments to national or multi-national vendors. Some of these firms which were strung along by BSNL included Nokia, ZTE, ATC, Bharti Infratel, Sterlite Tech, Vihaan Networks Limited (VNL), UTStarcomm, Fiberhome Networks, and Clixxo Broadband.

The official speaking about the development remarked, “BSNL has been seeking a refund for the Broadband Wireless Access (BWA) spectrum return and the excess amount taken by the government towards pension contribution, in addition to nonpayment of various state-funded connectivity programs that together come at close to Rs 14,000 crore.”