BSNL to Save Rs 1,300 cr in Current Fiscal Post VRS

State-owned Bharat Sanchar Nigam Ltd (BSNL) said on Tuesday that post VRS, it expects to save Rs 1,300 crore in wage bills this fiscal after the scheme becomes effective in January.

In all, 78,569 employees have opted for the voluntary retirement scheme (VRS), company CMD P.K. Purwar told reporters here.

"On January 31, 2020, it (the VRS scheme) will be effective. Our goal is that people who have applied for VRS, their application should be considered and approved...," he said.

With the October salaries credited on December 5, he said BSNL employees will get their November salary soon. "The salaries for November are expected this month...very soon."

Purwar said: "Once their (employees who availed VRS) applications are approved and get effective on January 31, things will get streamlined, and we will have savings of around Rs 600 crore per month for February and March this fiscal, which means around Rs 1,300 crore savings for this fiscal from salaries only."

After the VRS, BSNL will have around 70,000 employees, he said, but added that the company has an option to hire contractual employees from third parties as and when required.

On merger with MTNL, he said discussions have started and boards of both the companies have met on a common platform.

On the statutory dues of the corporation arising out of the recent SC verdict on adjusted gross revenue, Purwar said: "We have asked the government that given financial stress scenario, the government can think of reconsidering...."

Read More News :

How to Become a Certified Financial Expert?

Paytm Becomes only App Offering NEFT Transactions 24/7