Revival package only in paper, BSNL struggling to find funds
Thrissur: BSNL is facing severe crisis as the proposed revival package has been limited to mere voluntary retirement of the employees. The exchanges are struggling find funds for their daily expenditure as arrangement of working capital became just another proposal. Bank loan and debenture bonds were proposed in the package to find capital. Even after four months, no action has been taken in this regard. Employees in exchanges take money out of their own pockets to take care of various needs. If this state continues, exchanges will be shut down by next month.
Bank loan of Rs 6000 crores and debentures worth Rs 15,000 crores were aimed in the beginning. Telecom Minister Ravishankar Prasad had said that the company would find the money also by renting the buildings and leasing out the land that are owned by Telecom department.
Free 4G service was also mentioned in the package but even that is yet to be implemented.
Banks took a backward step from issuing loans to telecom companies as Supreme court took a tough stand against them in connection with AGR dues. This was a huge setback for BSNL though BSNL had the least dues of all telecom companies. Although it is said that the intervention of Nirmala Sitharaman on the issue might yield positive results, no such move is taking place.
4G to be delayed by 19 months
BSNL consumers will have to wait for 19 more months for 4G services even as other companies are ready to shift to 5G technology.