BSNL Management gives presentation to the unions and associations, on the revival package approved by the Cabinet.

The BSNL Management gave a presentation to all the unions and associations yesterday, about the revival package that has been approved by the Cabinet. CMD BSNL and other Directors of the BSNL Board were present. The presentations were given by the CMD BSNL and the Director(HR). As told in the presentation, the revival package includes allotment of 4G spectrum to BSNL, implementation of VRS, issuing of bonds by BSNL and MTNL to the tune of Rs. 15,000 crore for which Sovereign Guarantee will be given by the government, monetisation of BSNL's lands to the extent of Rs. 20,000 crore, the proceeds of which will be utilised to repay the loans and merger of MTNL with BSNL through which MTNL will become a subsidiary of BSNL. As regards VRS, it was told that all the absorbed employees above 50 years can avail it. Payment of exgratia plus pension will not exceed 125% of pay for the remaining period of service. This exgratia amount will be paid in two installments by the government. The 1st installment will be paid in this financial year, i.e., 2019-20 and the next installment will be paid in the next financial year, i.e., 2020-21. Payment of Gratuity and Pension Commutation amounts will be paid only on the actual date of retirement, i.e., on completion of 60 years. Time frame for the implementation of VRS will be finalised, on receipt of orders of the DoT.