State-owned telecom operator Bharat Sanchar Nigam Ltd (BSNL) on Monday said it has released the November salary today for its employees that runs up to ₹800 crore.
“Salaries (for November) for the employees have been released today and the amount will be credited to their accounts by today-end or tomorrow morning,” PK Purwar, Chairman and Managing Director, BSNL told reporters here.
Speaking on the sidelines of an event here, Purwar said that ₹1,700 crore to its vendors have also been released through internal accrual and bank loans recently.
When asked about when will the salaries start coming on time and stabilise, he said it will ‘take three-four’ months and more clarity will come after January 31 when Voluntary Retirement Scheme employees serve their last day in office.
After January 31, around 70,000 employees will be left in the organisation as 78,569 employees had opted for scheme offered by the government.
Purwar had recently said that post January 31, things will get streamlined, and BSNL will have savings of around ₹600 crore per month for February and March this fiscal, which means around ₹1,300 crore savings for this fiscal from salaries only.
He also had said BSNL will also raise ₹1,500 crore from the markets as funds to run the company.
Source: The Hindu