BSNL & MTNL

Massive subscriber losses, declining AGR and interminable delays in 4G launch, yet public money is still pouring in liberally for the two state owned telcos – BSNL & MTNL. After doling the Rs 69K cr package in October 2019, the government now is in the process of finalising one more revival package for BSNL & MTNL of Rs 1.18 lakh crore. According to sources, the breakup is as follows: (i) Rs 30K cr as sovereign guarantee for raising money through issuance of long-term bond for repaying existing loans of Rs 22K cr of BSNL & Rs 8K cr of MTNL, (ii) Rs 48K cr towards 5+5 MHz liberalised spectrum in 900 MHz band that is expiring in February 2022,