State-owned BSNL approved June salary for all its employees, while the remaining Rs 14,000 crore from the telecom department is awaiting approval.
The official said that BSNL was about Rs. All employees of the Rs 2,000-crore internal resources have sanctioned wages, the official said on condition of anonymity.
The company has sanctioned a salary of 750 crores, has paid interest on the loan of 800 crores and the remaining funds have been sanctioned for operational costs, such as electricity bill payments, partial vendors etc.
"The Finance Wing official has confirmed that they have got funding for June salary and they will be deposited in the employees' account on Monday," All India Unions and Association of Industry Communication Corporation Limited (AUB) convenor P. Abhimanyu said.
According to sources, the company sent the telecom department's demand of ₹ 14,000 crore in April, but it has not been received yet.
The amount of additional pensions in the demand, the amount to bring the mobile network to the Naxal affected area, and the interest paid on the BWA spectrum, which returned to the government.
BSNL's total debt is Rs 15,000 crore, which is the lowest in the industry.
Due to the large number of employees transferred to BSNL at the time of its formation, one of the main reasons for the higher expense ratio between wages and income is included.
According to official figures, 31,019 employees, including 46,597 executives and 1,17,305 non-executives, were working in BSNL on March 31, 2019.
Employee expenses for BSNL are 75.06%, while private telecom companies vary between 2% and 5% of the total income.
The government is hoping to revive PSU – BSNL and MTNL – and in this context the proposals are left with the DOT.