Bharat Sanchar Nigam Limited (BSNL) has defaulted on the payment of salaries of its employees for August. This is the second time in the year the Mini Ratna company could not meet its committed expenditure on salaries.
More than two weeks have passed and the employees are yet to hear any kind of word from the officials about the payment of their salaries.
The employees of BSNL faced a similar situation last year in February, BSNL had first time in its history defaulted on payment of salaries of its 1.76 lakh employees.
BSNL is incurring losses for the past five years and its net worth has dropped drastically as top brass tried to balance expectations of customers and improve the delivery of services.
As per the source around 55 percent of its revenue goes in meeting salary expenditure. The situation is getting difficult for employees who have taken loans.
Get the latest Nagpur Business news and updates about the city’s economy, business, and market. For exclusive & live updates from Nagpur, stay connected with THE LIVE NAGPUR.
👉 Click here to read the latest Gujarat news on TheLiveAhmedabad.com