To be able to avoid any crisis, the Department of Telecom (DoT) will be extending all of the financial assistance into BSNL until June, including for wages payment, he added.
The Prime Minister’s Office (PMO) has also recently reviewed the fiscally troubled situation of BSNL and asked the DoT to extend all possible assistance to the public sector unit until June.
According to the official, DoT has standby funds prepared for almost any financial exigencies in BSNL till June on account of salary or network maintenance front.
DoT is yet to get approval for the Rs. 6,535 crore VRS package and for the property monetisation exercise.
According to the source, concrete actions on BSNL’s revival will need to await the formation of a new government at the Centre and till the new business management takes over.
The DoT has known the 4G spectrum issue to telecom operator TRAI, also is preparing a draft cabinet note on VRS, the source said.
“Major decisions are rarely taken by an outgoing government. Preparing a cabinet note for flow doesn’t indicate the proposals are through scrutiny,” he said.
“Distinct ministries will give their views..after all, the government must bear the expense of the bonds that will be floted for your VRS,” the source added.
The chairman of state-run MTNL PK Purwar will assume control of BSNL in July this year after the current incumbent retires.
Monetising BSNL property is also a time-consuming process before real land sale happens, the official stated.
The Telecom Regulatory Authority of India’s (TRAI) recommendations on BSNL’s 4G spectrum proposal may also take some more months to arrive.