Mahanagar Telephone Nigam Limited (MTNL) has requested the government to let it retain its navratna status. The operator has stated that it is working on a business plan with an aim to make profits by March 2013, says news reports.
A K Garg, chairman and managing director, MTNL in a presentation before the Department of Public Enterprises (DPE) has stated that the operator has been making efforts to improve its finances and would begin to make profits by March, 2013.
Garg informed DPE that the operator is working on a business strategy to generate additional revenue by surrendering its wireless broadband spectrum and selling off the surplus land owned by it.
MTNL which operates in circles of Delhi and Mumbai, has been incurring losses since 2009-10 which disqualifies it from being a Navratna unit. The status allows public sector units operational freedom. In order to keep its navratna status, an organisation has to be a profit making company.
