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DOT urges state governments not to disconnect BSNL, MTNL power connections: Report
MTNL Chairman and Managing Director P K Purwar said, "MTNL has no pending electricity dues. All payments are up to date till February-end.
It seems both MTNL and BSNL is going through their worst financial crisis, as the Department of Telecom ( DOT) has requested state governments not to disconnect their electricity connections, PTI reported.
However, BSNL claims that it has already cleared 90 percent of its dues and remaining will be clear in the next 15- 20 days.
"A letter from the ministry has been sent to state chief secretaries requesting them to avoid disruption in MTNL and BSNL electricity connections because it is providing strategic support to state machinery for managing elections," PTI quoted an official here.
According to a report, BSNL's CMD Anupam Shrivastava said, "We have cleared 90 percent of the dues for electricity connections. Now around Rs, 250 crores are left, which will be cleared in next 15-20 days. There were some disconnections that took place but all of them have been restored now."
While MTNL Chairman and Managing Director P K Purwar said, "MTNL has no pending electricity dues. All payments are up to date till February-end."
Recently DOT has released Rs 171 crore to cash-strapped MTNL for paying salaries to employees.
In fact, there was a report in Business Standard DOT is considering bailout package of Rs 13,000 crore for BSNL.
"The banks are now reluctant to even give short term loans to BSNL. The company's total loss in FY'19 is likely to be Rs 7000 crore, including Rs 4,000 crore operational loss due to depreciation,"
BS quoted company official who does not wish to be named.
There is another report which says this development came after Telecom Minister Manoj Sinha met Finance Minister Arun Jaitley to discuss the ongoing salary crisis in BSNL.
To recall, this year in February BSNL also said that the ministry is in the process of finalizing a proposal for revival of PSU.