Estimated annual expenditure comes to Rs 129.63 crore for pensioners and Rs 24.93 crore for family pensioners
GN Bureau | August 6, 2016
State-run MTNL spends 70 percent of its revenue on salaries and pension of its staff, communications minister Manoj Sinha told Rajya Sabha on Friday. The minister said that this has affected the financial condition of once profit-making telecom company.
The estimated annual expenditure comes to Rs 129.63 crore for pensioners and Rs 24.93 crore for family pensioners approximately, he said. Arrears upto 2015-16 would be Rs 369.55 crore for pensioners and Rs 69.55 crore for family pensioners approximately, the minister added.
He also said that the cabinet has approved the revision of pension of BSNL pensioners, who retired prior to June 10, 2013 at par with serving employees of BSNL.
The cabinet has cleared the formation of ‘National Asset Reconstruction Company Limited’ (NARCL) which will acquire “stressed assets” of about Rs. 2 Lakh crore in phases within RBI regulations in order to address the problem of humongous amounts of bad loans in public sector banks.
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