Bharat Sanchar Nigam Limited (BSNL) and Mahanagar Telephone Nigam Limited (MTNL) have been asked by the government to sell their assets for raising money. The assets which are not getting used much including land parcels, buildings, and more are to be sold. However, the speed at which this should have happened is extremely slow. To expedite the process, the government has come up with a new framework. Under this framework, the government entities can now directly buy the assets from BSNL, MTNL, and ITI Limited. These purchases can be made at market rates.
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According to a CNBC-TV18 report, the assets which are below Rs 10 crore can be sold directly by the telecom entities. However, for assets above Rs 10 crore, CPWD (Central Public Works Department) will set the valuation. Lastly, for assets above Rs 100 crore, NLMC (National Land Monetisation Corporation) will set the valuation.
The government entities interested in buying the assets will have to deposit 2% earnest money. In case the government entities do not show interest in these assets, the private bodies can purchase it. So far, since 2019, BSNL and MTNL have earned a total of s 12,984 crore from the monetisation of assets.
