The development comes after the finance ministry rejected the proposal of the department of telecommunications (DoT) to pump in a massive Rs 74,000 crore to revive the ailing PSUs, the report added. The cost of closure won't be as high as Rs 95,000 crore as argued by the DoT earlier. The Rs 95,000 core amount was derived from the expense that will be incurred when providing an attractive voluntary retirement scheme (VRS) package to around 1.65 lakh employees of the two firms.
Shutting them down, however, will not lead to such a high expense, people aware of the matter told Financial Express. As per the report, the large volume of workers also includes officers from the Indian Telecommunications Service (ITS), who were directly recruited by the firms and those who came from other PSUs or government departments before being absorbed.
The ITS officers can be redeployed into other departments. The staff, who were recruited directly constitute, less than a tenth of the total strength of the two firms. Thus, the report added, the VRS issue will be a concern only to those who were absorbed from other departments, reducing the cost of shutting them down.
2 comments:
Very good decision. No need to think for the common countrymen.It is better to take measures to help the corporate. Let RBI to reduce the repo rate and compel the nationalised banks to link loan interest rate with repo rate so that customers specially corporates get loan at lower rate of interest. Reduction in loan interest rate by banks create also reduction in interest rate on deposits which directly affects the depositors specially senior citizens who depends on the interest earnings on their deposits in the bank. Let the senior citizens sacrifice for the corporates for building of new INDIA. Let us cheer for new India.
BSNL should be revived. As it the only public company in the telecom sector. In the absence of public company private company will be charging too much from public as syndication will start. Indian market is not as mature as other developed countries. Moreover there are far flung areas where only bank is providing services , no other private is providing services due to operative loss. Public sector companies are for services to all even some commercial interest has to be sacrificed unlike private companies.
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