New Delhi (India), 26th April 2023: The department of telecommunications (DoT) has instructed state-owned companies BSNL and MTNL to identify core and non-core assets with a value up to Rs 10 crore for monetisation, according to informed sources.
At least ten such properties in this range are likely to be found by BSNL in each circle. Although the government has provided BSNL and MTNL with a revival package worth $1.64 trillion, asset monetisation is essential for them to pay off debts and meet capital expenditure requirements.
According to two government sources, the chief general managers (CGMs) of all circles have been requested to list the assets that are under the BSNL board’s purview and that can be quickly monetised. The CGMs have been given roughly three months to finish the assignment, and based on their performance, BSNL will share the DoT’s monetisation target.
Given that it hasn’t been successful in monetising the higher-valued assets of these two companies, the government’s move to identify more of these smaller properties is crucial. The Cabinet accorded its assent to monetise assets along with the first revival package for BSNL and MTNL in 2019 totalling Rs 69,000 crore.
A Group of Ministers (GoM) permission is not necessary for the sale of assets valued at less than Rs 10 crore, according to the policy for the monetisation of land and building assets of BSNL and MTNL.
