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BSNL to close VRS scheme today

The public sector telecom service provider BSNL will close the Voluntary Retirement Scheme (VRS) for its employees today at 5.30 pm. The scheme was opened on November 4.

As per reports around 79,025 employees of the debt ridden PSU has opted for VRS. BSNL management has aimed at giving VRS to around 80,000 employees.

Nearly one lakh BSNL employees are eligible for the Voluntary Retirement Scheme (VRS) out of its total staff strength of about 1.50 lakh. The effective date of voluntary retirement under the present scheme is January 31, 2020.

The union government has earlier made it clear that the Bharat Sanchar Nigam Limited and Maharashtra based Mahanagar Telephone Nigam Limited (MTNL) will not be closed and will be merged. Both the PSUs were debt ridden.

MTNL has reported losses in nine of the past 10 years and BSNL too has been ringing in loss since 2010. The total debt on both companies stood at Rs 40,000 crore, of which half of the liability is on MTNL alone.

BSNL has a total of 1.60 lakh employees and MTNL has 22,000 employees. The VRS scheme is open till December 5.

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