Modi Hai To Mumkin Hai: For The First Time, BSNL Doesn’t Have Money to Pay Salaries to 1.68 Lakh Employees
Salaries of employees and officers in all major circles has reportedly not been paid for the month of February.
Bharat Sanchar Nigam Limited (BSNL), India’s state-run telecom company, is reportedly facing a financial crisis which has reached a point that the salaries of around 1.68 lakh employees has not been paid for the month of February.
Per a report in NewsClick, according to the corporate management, the company does not have enough cash flow to pay the salaries of employees. “We were supposed to get the salaries on February 28 and we have not got it yet. More than that, as BSNL faces cash deficit, it is not able make all the bill payments,” Swapan Chakraborty of BSNL Employees’ Union told NewsClick.
While BSNL has consistently lost it’s market share and revenues due to the entry of Reliance Jio, industry analysts, according to the report, foresee the trend to continue. However, the Narendra Modi-led Bharatiya Janata Party (BJP) government has not lent the company the helping hand it needs.
“The Department of Telecommunication (DoT) is not allowing BSNL to take bank loans to meet its operational expenditures. DoT only allows BSNL to take bank loans for capital expenditure. The stringent condition imposed by DoT restricts the operations of BSNL,” Chakraborty told NewsClick.
He also reportedly noted the logic of not allowing BSNL to take such loans since the total debt of BSNL is Rs 13,900 crores. At the same time, the debt of Vodafone idea is Rs 1.2 lakh crore and debt of Airtel is 1.13 lakh crore. Reliance Jio has a debt of about Rs 2 lakh crore.
Chakraborty added that the situation of contractual workers is worse — they haven’t been paid their wages for three months. In Uttar Pradesh, many have not been paid for the last six months, the report said.