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| No progress on BSNL stake sale; Pitroda says PSU needs time |
| Press Trust of India / New Delhi Mar 17, 2010, 21:08 IST |
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State-run Bharat Sanchar Nigam (BSNL) today said it has not heard anything from the Government on the stake sale of the PSU, a key proposal of the Prime Minister appointed Sam Pitroda panel to resurrect the declining financial fortunes of the company.
"There is no preparation on the IPO... The government has to take a decision. We haven't heard anything from the Department of Telecom," BSNL Chairman and Managing Director Kuldeep Goyal told PTI.
Telecom Secretary P J Thomas when contacted said, "DoT has not taken any decision on the IPO of BSNL."
Sam Pitroda, who is also adviser to the Prime Minister on infrastructure, today said BSNL management should be given sometime to take a call on his proposals that include 30 per cent stake sale in the PSU and rationalisation of staff by a third to 1 lakh.
The former Telecom Commission chairman also said his entire 15-point proposals should be looked at a holistically for BSNL not one or two proposal.
"I don't think these things can be looked in isolation. They have look at the whole package... I would suggest give some room to BSNL management and the ministry... Let them decide what needs to be done. IPO is a long way off... Give them time to study it... decide any plan of action to do that," he said here.
Recently the BSNL board cleared the stake sale along with other proposals of Pitroda. Since 2007, BSNL has twice approved the proposal to divest 10 per cent stake in the company but the telco has been unable to go ahead with the same due to stiff opposition from its employee unions.
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