All India BSNL Pensioners' Welfare Association.

BELIEVE IT OR NOT.....

BSNL-MTNL MERGER: WHERE IT STANDS?

According to the item appeared in the website of BSNLEU on 17-3-2017, the leaders of various organizations met CMD and discussed the matter. The report about the discussion is as:

[17.03.2017] Merger of BSNL and MTNL.

“Many rumours are doing the rounds among employees with regards to the merger of BSNL and MTNL. In view of this, the leaders who met the CMD BSNL today, raised the issue in the discussion. The CMD BSNL replied that he was not aware of any development on this issue. …..” (BSNLEU WEBSITE)

Then, read with the following news item appeared in PTI News on 19-3-2017

New Delhi: Amid renewed push for BSNL-MTNL merger, BSNL CMD Anupam Shrivastava has said the combination will be “advantageous” for both the state-owned telecom firms but issues pertaining to debt and salary structure will need to be sorted out first.

BSNL ASSETS: CMD informed the leaders as

“So far the Companies in India were following an Accounting Standard called GAP (General Accounting Principle). However, the Government of India has made it compulsory from this year onwards, that the Companies should follow a new Accounting Standard called Ind AS. As per this new Accounting Standard, a different methodology is to be adopted by the Companies, for calculating their net worth. Accordingly, the assets purchased by BSNL, after 01.10.2000, through the revenue it generated from it’s core business alone will be taken for assessing it’s net worth. At the same time, according to the new procedure, the value of the total assets of the Company, like land and buildings, will also figure in the account. For this purpose, BSNL has to bring in the value of it’s entire lands into the account. A consultancy, to be appointed by BSNL, probably KPMG, will assess the market value of these lands and will certify it. In this year’s account, BSNL’s lands worth atleast Rs.1,50,000 crore has to be brought into the account. And, this job has to be completed before 30th June, 2017. If BSNL’s assets worth Rs.1,50,000 crore figure in the account, it will greatly improve the image of the Company in the eyes of public.”

NITI AYOG Direction:

Niti Ayog (new version of Planning Commission) has listed BSNL and ITI for disinvestment.

PMO ASKS:

Prime Minister’s Office has asked the Department of Telecom what action the latter has taken on the direction from the Niti Ayog…..

When you read all the above items, you will come to some conclusion. Some very important structural change of BSNL can be expected….