NEW DELHI: The government on Wednesday informed that it couldn’t find any bidder for the properties of state-owned Bharat Sanchar Nigam Limited (BSNL) and Mahanagar Telephone Nigam Limited (MTNL).
In a written reply to a question in Lok Sabha, Meity minister Ashwini Vaishnaw said no eligible bids have been received except for 7 flats in Mumbai.
“Bids were invited for 4 properties of BSNL and 2 properties of MTNL on 18 November 2021 and opened on 4 January 2022. No eligible bids have been received except for 7 flats in Mumbai,” said the minister.
He said the cumulative losses incurred up to 2020-21 by BSNL and MTNL are Rs 95,701 cr and Rs 35,348 cr, respectively.
On the question of the rationale behind selling assets of public sector telco’s while simultaneously bailing-out loss-making private companies like Vodafone Idea, the minister said it is a part of reform and to promote healthy competition, protect the interest of consumers and infuse liquidity in the sector.
The debt-laden VIL opted to convert Rs 16,000 cr of interest liability to government equity. For BSNL and MTNL, the minister said it has already approved a revival package on October 23, 2019.