BSNL eyes Rs 300 cr from asset monetisation in FY20

State-owned Bharat Sanchar Nigam Ltd (BSNL) has initiated discussions with the Central Board of Secondary Education and others for sale of specific land parcels, as it sets the ball rolling on asset monetisation plans that could yield Rs 300 crore this fiscal, according to a senior government official.

Moreover, the Telecom Department has sounded out Ministry of Finance about BSNL’s plans to issue sovereign guarantee bonds, and these could be floated as early as February, once the requisite approvals come in.

A senior official of Department of Telecom (DoT) said that Voluntary retirement scheme (VRS) plans rolled out by both BSNL and MTNL have been highly successful and will help reduce BSNL’s wage bill by 50 per cent and MTNL’s by 75 per cent.