NEW DELHI: Telecom Minister Ravi Shankar Prasad has directed the ailing telecom PSUs, BSNL and MTNL, to start out a dialogue with their workers on the phrases and situations of the voluntary retirement scheme (VRS) and put together a roadmap for its profitable implementation, higly positioned sources stated.
The Union Cupboard had final month permitted a revival bundle for BSNL and MTNL which features a voluntary retirement scheme (VRS) for his or her employees. The purpose is to scale back the worker value of the 2 firms by providing VRS to their employees aged 50 years and above primarily based on the Gujarat mannequin with some modifications.
The federal government has set January 31, 2020 because the final date for workers choosing VRS. It can give Rs 17,160-crore for VRS settlements and one other Rs 12,768 crore in direction of retirement liabilities.
BSNL has 1.76 lakh workers, of which some 1.06 lakh are over 50 years of age. The telco is eager that 80 per cent of the staff ought to go for the VRS.
MTNL has round 22,000 workers. BSNL’s worker value is 75 per cent of its whole revenue and MTNL’s worker value is 87 per cent of its whole revenue.
The monetary well being of each PSUs rely upon the success of the VRS, the implementation of which might take a minimal of 90 days.
“The Minister on Friday met the boards of each BSNL and MTNL and conveyed to them that the scheme should be applied with a correct dialogue with the staff, and by presenting them with questions and solutions,” sources stated.
“He instructed the boards of the 2 PSUs that it was the best VRS introduced by any PSU, and BSNL and MTNL should be proactive to make it successful,” stated the sources.
Workers above the age of 53.5 years will get 125 per cent of their wage, which they may have earned in stability interval of their service. Workers within the age bracket of 50 to 53.5 years choosing the VRS will get profit within the vary of 80 to 100 per cent of the remuneration to be paid within the stability interval of their service. For workers at the moment greater than 55 years of age, on choosing VRS, the pension can be commuted solely after they attain 60 years of age (the present retirement age). For the staff, at the moment of age 55 years and fewer, on choosing VRS, the pension can be commuted within the sixth 12 months 2024-25.
Prasad additionally requested the PSUs to take proactive measures to monetise their belongings and full every part in a time-bound method. “He stated there can be strict monitoring, and BSNL/MTNL must ship,” sources identified.