The government will soon release the second installment of the revival package to BSNL.
As per the information, the company can be given Rs 12,000 crores within the next day or two for debt repayment and to pay its vendors. The beneficiaries of this payment include names like ITI, Tejas, HFCL, VNL, Sterlite Technologies, Paramount, etc.
The company recently raised Rs 4200 crore through bonds. The government has released the first instalment of Rs 5000 crore. Last week, the government announced an outlay of Rs 22,000 crore, which the telecom major will utilise to develop its 4G and 5G technologies.
Union telecom and IT minister Ashwini Vaishnaw had said that BSNL’s 4G technology will be upgraded to 5G in five to seven months and rolled out across 1.35 lakh telecom towers across India.
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