BSNL, MTNL Plan to Monetise Rs 1,000-Crore Land Assets This Fiscal to Ease Financial Pressure
In a fresh move to strengthen the financial position of Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL), the government is looking to raise about Rs 1,000 crore during the current financial year by monetising land parcels owned by the two state-run telecom companies, an official source revealed. This monetisation effort aims to reduce the mounting debt and improve liquidity for both telcos through the sale or leasing of select land assets identified by the Department of Public Enterprises (DPE) under the finance ministry. According to the official, “The DPE will shortlist suitable properties for this initiative. BSNL has two or three land parcels under review. Combined, the land assets of BSNL and MTNL are valued at roughly Rs 1,000 crore and are expected to be monetised within this fiscal.” The initiative forms part of a larger strategy to revive the financial health of BSNL and MTNL, which have been under severe stress due to increasing operational co...