MTNL offers the voluntary retirement scheme to about 20,000 employees

Mahanagar Telephone Nigam Limited (MTNL) operating in Delhi and Mumbai region has offered Voluntary Retirement Service (VRS) to about 20,000 of its employees.  

MTNL?s planned VRS is expected to result in an outgo of about Rs 30 billion for the company.

Meanwhile, the company has also approached the government for surrendering its broadband wireless access licence (BWA). The PSU had paid Rs 46 billion for its BWA license.

MTNL plans to restructure its loan book through funding which it will get through sale of assets. MTNL had reported a loss of Rs 9.29 billion for the quarter ended December, 2011.

MTNL is planning to spend close to Rs 2 billion on improving its wireless network. It plans to use ADSL broadband for indoor network for 2G and 3G coverage.