New Delhi, Oct 9 (DWNN): The finance ministry has recommended the closure of struggling telecom companies BSNL and MTNL, Financial Express has reported.
The cost of closing the two state-run companies would not be as high as Rs 95,000 crore, a number put out by the Department of Telecommunications (DoT), the report said.
The sum of Rs 95,000 crore factored in a voluntary retirement scheme (VRS) for all 1.65 lakh BSNL employees and its debt repayment, the report said.
The government has rejected DoT's request for a Rs 74,000-crore bailout package for BSNL and MTNL, an earlier report in the newspaper had said.