BSNL may shut down: It has no money to pay employees, all you need to know about BSNL crisis
BSNL has been in a serious financial crisis for a while. The state-owned telecom operator is no more in a position to pay salaries or manage daily operations.
There was a time, when the state-owned Bharat Sanchar Nigam Limited (BSNL), was among the few telecom operators in India earning profits in excess. The operator was earning profits in excess of Rs 10,000 crores per year. With this financial year, 19-20 debt amount goes higher and higher. Even the Government have lent them 850 crores in the month of June just to pay their salaries to the employee of the month of June.
BSNL has a great debt of 1300 crore making the lenders worry how they are going to pay; even if there is a relief of 2500 crore given to BSNL it is the matter of few months they survive in the market. The sudden booming entrance of Reliance Jio on the scene, the condition has only worsened for BSNL. Compared to its rivals, BSNL has been lagging way behind in terms of services and technological advancements. In an era where everyone is preparing for the 5G network, BSNL is testing its 4G network across the country.
It is still the right time for the government and the BSNL higher officials to take a move and fix what all wrong is there.