Confident of disbursing May salary on time, says BSNL chief

Ties up with SBI for a ₹ 1,500 crore loan to meet its working capital requirements

State-owned BSNL is confident of making timely payment of staff salaries for the month of May, Chairman and Managing Director Anupam Shrivastava said on Monday.

The company has also tied up with State Bank of India recently for a ₹ 1,500 crore loan to meet its working capital requirements, based on a letter of comfort extended by Department of Telecom (DoT).

“We are comfortable…We will be able to pay salaries on time this month,” Shrivastava told PTI.

The salary tab of nearly ₹ 900 crore would be supported by receivables from mobile, broadband and enterprise businesses, he said. The telecom PSU, which has 1.68 lakh employees, faced a problem in clearing staff salaries for February.