State-run telco BSNL seeks Rs 40,000 cr support from government

State-owned telecom firm BSNL has approached the government for Rs 40,000 crore financial help, half of which it needs in the form of sovereign guarantee to clear short-term debt.

BSNL Chairman and Managing Director PK Purwar told PTI that the company does not need any additional debt and its business has become self-sustainable to support the operations.

“We do not need any additional debt. We have asked for Rs 20,000 crore sovereign guarantee to pay back our short-term debt and issue long term bonds. We will need Rs 20,000 crore if we have to set up 1 lakh node B (mobile sites) for mobile network rollout,” Purwar said.