No recharge for MTNL; state-run telco asked to speed up monetisation

The government will no longer infuse any fresh capital into ailing Mahanagar Telephone Nigam (MTNL), but may not initiate its closure right away, as this would be done only after the company clears its liabilities of around Rs 32,000 crore, according to official sources.

To generate funds for expunging the liabilities, the company has been asked to generate revenues from asset monetisation and operations, and bring in efficiency to reduce costs, the sources added.