Merge, Mismanage, Show Losses And Sell: Rahul Gandhi On BSNL-MTNL Merger

Congress leader Rahul Gandhi on Wednesday attacked the Bharatiya Janata Party government over the merger of Bharat Sanchar Nigam Ltd. and Mahanagar Telephone Nigam Ltd., saying it follows the process of “merge, mismanage, show mega losses and sell cheap to crony capitalists”.

The government on Wednesday approved a Rs 68,751-crore revival package for public sector telecom companies BSNL and MTNL, including 4G spectrum allocation and voluntary retirement scheme, as well as their merger.

“Step 1: Merge. Step 2: Mismanage. Step 3: Show Mega Losses. Step 4: Sell Cheap to Crony Capitalist,” Gandhi said on Twitter.

Step 1: Merge
Step 2: Mismanage
Step 3: Show Mega Losses
Step 4: Sell Cheap to Crony Capitalist#BsnlMtnlMerger https://t.co/StKXbjpjuD

October 23, 2019

The revival package includes raising of Rs 15,000 crore sovereign bonds to meet immediate capital requirement of both the companies, 4G spectrum allocation worth Rs 20,140 crore, Rs 29,937 crore for VRS covering 50 percent of their employees, and Rs 3,674 crore for goods and services tax that will be levied on allocation of radiowaves.

Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.