Bharat Sanchar Nigam Limited (BSNL) has released a statement denying any plans to shut down the company and has said that it will continue to offer telecom services in the country.

BSNL’s statement has come in response to the recent reports mentioning that the finance ministry has suggested the closure of the telecom operator.

According to BSNL, there is still hope for revival of the telco as the company has strong assets. As of March 2018, BSNL had land worth Rs 700 billion and buildings worth Rs 37.6 billion. The telco has also sought spectrum by equity infusion of Rs 67.67 billion.

At present, DoT is working on a revival plan for the operator as part of which it has suggested voluntary retirement scheme (VRS) for BSNL’s employees and monetisation of its land assets. DoT plans to provide a funding of Rs 63.65 billion for BSNL’s VRS packages through bonds.