Government committee to consider BSNL/MTNL rescue

22 Apr 2013

The government has set up a group of ministers to look into reviving debt-laden state-backed telcos Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL), the Hindustan Times writes. The panel will include finance minister P Chidambaram, telecoms minister Kapil Sibal, commerce minister Anand Sharma, law minister Ashwini Kumar and the deputy chairman of the planning commission Montek Singh Ahluwalia. The group will submit its report in three months. As previously noted by CommsUpdate, Sibal recently appealed to the PM to take ‘immediate action’ and provide financial support to put the two telcos back on track, adding that BSNL was expected to book net losses of some INR100 billion (USD1.823 billion) for the current fiscal year.