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Policy & Regulation
BSNL waits for government assistance to implement VRS
TT Correspondent |  |  17 Dec 2011

Cash strapped BSNL has said that it requires government assistance of Rs 12,000 crore to implement voluntary retirement scheme.

Addressing the media, BSNL CMD R K Upadhyay on Friday said that the state owned service provider is waiting for the clearance of the government for the financial assistance for the scheme.   

As per the strategy for the VRS scheme for one lakh workers, BSNL would bear about Rs 4,000 crore, while Rs 12,000 crore would come from the government. The total cost of VRS is16,000 crore, he said 
         
He, however, denied that company can save on salary front by implementing the VRS. Out of total revenue that BSNL generate, 48percent goes in paying salaries. The real purpose of this exercise to hire young professionals in the background of new and changing technology in telecom sector where every technology gets obsolete every 4 years.

By implementing VRS scheme and adopting new technologies, the company which is incurring frequent losses might show progress in 2-3 years time. he hoped.  
               
The salaries and 3G and BWA costs have been responsible for the loss Rs 6,000 crore that BSNL incurred during 2010-1.
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17 Dec 2011(IST)  
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