Towers’ Hive Off

Bharat Sanchar Nigam Ltd (BSNL) has recently made a presentation to the Prime Minister Office (PMO) on hiving off its tower assets to a separate company. It says, the new tower company will start making profits of Rs 53 crore (FY 2017-18) from the very first year of operation provided the government pays Rs 578 crore the stamp duty for the asset transfer. Otherwise BSNL says, “tower company will not be profitable for a number of years.”