BSNL, MTNL news: Telecom Minister Ravi Shankar Prasad stated in the Rajya Sabha that there has been no suggestion for disinvestment of BSNL and MTNL is underneath attention.

BSNL, MTNL brand new news: The Narendra Modi government on Thursday ruled out any plans to promote stake or disinvestment of loss-making telecom PSUs — BSNL (Bharat Sanchar Nigam restricted) and MTNL (Mahanagar smartphone Nigam limited). Union Telecom Minister Ravi Shankar Prasad made this declaration within the Parliament even as fixing a target of Rs two hundred crore and Rs 300 crore for them from asset monetisation in contemporary fiscal.

In a written reply to a question in the top house today Ravishankar Prasad, Union Telecom Minister, government of India stated, "while the specific belongings to be monetised throughout the modern monetary year have not begun no longer been diagnosed, the goal for asset monetisation at some point of the current financial year for BSNL and MTNL is Rs 200 crore and Rs 300 crore respectively," including, "(there is) no thought for disinvestment of BSNL and MTNL is beneath attention."

Ravi Shankar Prasad went on to add that MTNL operates inside the metros of Delhi and Mumbai at the same time as BSNL operates within the relaxation of India. The cabinet has authorised the revival plan for BSNL and MTNL which inter-alia, consists of in-principle acclaim for the merger of BSNL and MTNL. The merger will advantage BSNL/MTNL thru pan-India footprint, synergy in operations, decreased fixed costs and overheads, sharing of technical infrastructure and enhanced employer enterprise.

state-run BSNL`s losses for the yr 2018-19 has doubled to almost Rs 15,000 crore from 2017-18 and sales has additionally dwindled to Rs 19,321 crore in fiscal 2019.

As consistent with the figures are given through Telecom Minister in the Rajya Sabha, in 2018-19 BSNL published a loss of Rs 14,903 crore and the loss was Rs 7,993 crore in 2017-18 and Rs 4,793 crore in 2016-17. MTNL published a loss of Rs 3,398 crore in 2018-19, Rs 2,971 crore in 2017-18 and Rs 2016-17 as well.

The revenue of BSNL in 2017-18 became Rs 25,071 crore and Rs 31,533 crore in 2016-17. MTNL's sales was Rs 3,552 crore in 2016-17, Rs 3,116 crore in 2017-18 and Rs 2,607 crore in 2018-19. (With inputs from IANS)