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BSNL to issue salaries before Diwali after employees threaten to hold hunger strike

Purwar said that the department was likely to pay the salaries to its 1.76 lakh employees from its own resources and accruals.

SNS | New Delhi |

As the state-run Bharat Sanchar Nigam Ltd (BSNL) employees threatened to hold a day-long hunger strike over delay in salaries during the ongoing festive season, their chairman and MD, P.K. Purwar on Tuesday announced that they will get their salaries for September before Diwali.

As per the reports, Purwar said that the department was likely to pay the salaries to its 1.76 lakh employees from its own resources and accruals.

Presently, the department’s per month salary pay out is 850 crore. Through the PSU generates Rs 1,600 crore per month, the amount is not enough to cover salaries of its employees as the large chunk of its revenue goes to the operational costs and other statutory payments. As per the media reports, the department is also trying to raise funds from banks via government guarantees, but it is still to be approved. On the other hand, BSE also has to clear its dues from the internal accruals.

The PSU is currently on the government’s priority list, but the possibility to minimise its financial woes is less. It can only be done after the induction of the 4G spectrum and the voluntary retirement scheme to cut down the department’s workforce is implemented, but the two will take some time.

The ministry of finance and the PMO, both are in favour to revive the BSNL and MTNL and are ready to infuse around Rs 50,000 crore in them.

(With input from agencies)