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State-owned Bharat Sanchar Nigam Ltd’s (BSNL) Voluntary Retirement Scheme (VRS) is increasingly being opted for by executives below 55 years of age, while the total number of employees opting for the scheme clocked 77,500. The public sector unit’s separation scheme is now expected to exceed its earlier target of 80,000 personnel soon, if not this week.
“The response to the scheme is much better than the management’s expectations, even though the VRS package will not be as beneficial to them (executives below 55 years). The scheme is much better for employees aged over 55 years,” a source close to the development told BusinessLine.
Also read:BSNL close to achieving VRS target
With the scheme getting a “good response” from employees, it is unlikely the Government will reduce the retirement age to 58 from the present 60, the source added.
On Wednesday, BSNL held its board meeting, which was followed by the Annual General Meeting to approve its half-yearly results, which is required for floating of bonds to raise funds.
Earlier in October, the Union Cabinet had announced a bailout package that included strengthening the company’s finances through sovereign bonds, VRS and providing 4G spectrum at administrative rates.
Also read:Diwali bonanza: BSNL-MTNL to be merged
Meanwhile, Sanchar Nigam Executives’ Association (a BSNL executives’ union) has written to the Chairman and Managing Director, PK Purwar, seeking repatriation of Indian Telecommunication Services (ITS) officers working with the company.
This will help BSNL save at least ₹5 crore every month, the letter written by SNEA General Secretary Sebastin K said.
“The average expenditure for an ITS officer at the level of a General Manager is more than ₹5 lakh per month in of salary, pension contribution, TA/DA, medical, vehicle, driver and other subordinate staff cost. By keeping around 100 excess ITS officers, BSNL is unnecessarily spending around ₹5 crore per month. This amount can be effectively utilised for the payment of electricity charges and rentals, among others, for maintaining the network,” the letter added.
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