New Delhi: Disaster-ridden MTNL, whose revival bundle is within the works, has exuded confidence that it will not face any problem in cost of April salaries to its 22,000 workers, because it plans to faucet inside accruals and accessible money.
The remark assumes significance as distressed telecom PSUs Mahanagar Phone Nigam Ltd (MTNL) and Bharat Sanchar Nigam Ltd (BSNL) are saddled with huge debt and have confronted issues in clearing workers salaries within the latest previous.
MTNL Chairman and Managing Director PK Purwar advised PTI that the corporate will be capable of pay April wages totalling about Rs 200 crore from inside accruals and its current money steadiness.
“… we do not see any challenge in paying salaries for the month of April. We have sufficient cash balance and internal resources and will be able to meet our liabilities without any issue,” Purwar claimed.
The month-to-month wages totalling Rs 200 crore could be supported from Rs 250 crore that the telecom PSU has accessible as money and money equivalents, he added.
“We are following up on all our legitimate claims…of almost Rs 1,000 crore (from various sources). Every single penny is being chased. There are outstandings from Telecom Department, also we have to receive some money in Income Tax refund (about Rs 100 crore), which we are pursuing,” he stated.
The telecom PSU asserted that it has not sought “grants” from the Telecom Division with regard to its about Rs 500 crore pending dues. Purwar stated that the state-owned company is chasing solely “legitimate claims” which “need to be addressed”.
The Telecom Division has ready a rescue plan for MTNL and BSNL within the type of a revival bundle that entails elements like Voluntary Retirement Scheme, asset monetisation, and allocation of 4G spectrum. The revival plan is predicted to be taken up by the Cupboard quickly, sources stated.
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