Government to shut down MTNL and 5 other loss making PSU’s ?

By March 12th, 2015 AT 10:09 AM

As we predicted some months back, the Government will be in its move in shutting down a bunch of losses making PSUs which also includes the state-run telecom MTNL. India has totally 251 PSUs amongst which 65 are reportedly put under the scanner for being the loss-making ones.

MTNL Mobile

The five PSUs which will be closed down include HMT which was one of the early pioneers in manufacturing watches and tractors along with Air India the airline company which was sailing through the troubled skies from past couple of years reports moneycontrol.com.

When questioned about the employees welfare, Minister Anant Geete said that they will be offered a very good VRS package.

Air India and MTNL were the companies who were once leading in their sectors and recently were condemned by incurring losses in excess of 50% their average net worth. The Government has however not revealed the names of the other PSUs. MTNL which had boasted of a Rs 7820 crore in 2013-2014 had incurred losses of Rs 5321 and Rs 4109 in the previous years. All this sets us wondering if BSNL is next in line.

Source Moneycontrol.com

Engineer by profession and a Geek by choice. You will mostly find him fiddling with a handful of Android devices and trying to tweak them to the max. Trying to reclaim his life by going public with his obsession with Gadgets.

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monoj

i am a retailor of telecom line. i have a reliance gsm lapu sim with the balance amount Rs.1600/- . so what to do right now ? how can i get back the liquid money against my lapu balance when the company is going to closed their buisness.

Subhro

One of the good moves is to shut down BSNL. Govt. debt notwithstanding, it would end incompetence and horrifying state of internet connectivity pan-India.

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