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BSNL to get bank credit of Rs 35 billion; will pay employee salaries soon, says CMD

March 15, 2019
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According to Anupam Srivastava, Chairman and Managing Director (CMD), Bharat Sanchar Nigam Limited (BSNL) is expected to get bank credit of Rs 35 billion and would clear the outstanding salaries of its employees by March 15, 2019.

This has been possible due the Telecom Minister’s timely intervention for ensuring that the salaries of the employees are paid at the earliest.

According to BSNL, the Department of Telecommunications (DoT) had helped the operator in securing a Presidential Sanction to meet working capital requirements of the company and a letter of comfort for the same was issued to the company.

BSNL will now serve the letter of comfort to the bank, following which they will start processing Rs 35 billion to working capital requirement of BSNL.

The company expects to receive total accruals of Rs 27 billion out of which Rs 8.5 billion will be used for salary disbursement.

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