Have money, will waste

The best thing that the Group of Ministers (GoM) set up to discuss the revival of ailing telecom PSUs MTNL and BSNL can do is to summarily reject the note put up by the DoT. Because other than a string of excuses and non-solutions, the DoT has no real turnaround strategy for the PSUs. And that’s hardly surprising given that, as compared to the industry average of 5%, MTNL’s wage payments are more than its revenues—BSNL is better in comparison but its wages add up to a whopping 49% of turnover. 

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