Prasad directs BSNL, MTNL to proceed quickly on VRS, asset monetisation plans

New Delhi, Nov 3 () Telecom Minister Ravi Shankar Prasad has directed BSNL and MTNL to implement VRS guidelines quickly and initiate proactive measures to monetise assets in a time-bound manner, while making it clear that they have to become more aggressive in the telecom market, sources said.

A government official privy to the development said that the minister who met the boards of BSNL and MTNL categorically told the companies that they have been given a “strong incentive package” by the government and must roll up their sleeves now to become more competitive.

It may be recalled that the government last month had approved a Rs 69,000-crore revival package for BSNL and MTNL that includes merging the two loss-making firms, monetising their assets and giving VRS to employees so that the combined entity turns profitable in two years.