Thrissur: An extraordinary meeting of BSNL Director Board learned to be convened on 15th of this month will decide about the sale of its assets.
The meeting will decide on the lands and buildings identified for asset disposal, an important step in reforms. The meeting is expected to entrust the board to take decision on the assets sale.
The board also will be authorized to issue government guarantee bonds of Rs. 8500 Cr. The fund acquired through the assets sale will be utilised to meet loan repayment, operational costs and others.
The telecom operator who boasts of precious lands in prime locations across the country, is now seeking funds, through sale or transfer of its own properties.
In the modernisation scheme of the company, retirement of the employees was given first priority.
Though 80,000 employees signed off, the company is still lagging behind in terms of key development activities including roll-out of 4G services.
The stipulation that 4G equipment can be procured only from domestic vendors is proving to be bottleneck for the service provider.
Meanwhile, the company has changed the method of ex-gratia payment guaranteed for the retired hands. Though the ex-gratia payment was assured in two instalments in this financial year and the first half of next financial year, only one third has been distributed.