Sunday, December 13, 2009

MP Appeals to Save BSNL from Collapse

For the past two years, BSNL has seen sharp erosion in profits and posted huge operational losses. BSNLs falling revenues, falling profits and falling market share. While many private telecom companies have seen significant revenue and profit jumps, BSNL has lost market share and grown much below the industry average in the mobile segment. From a profit of Rs4,231/- crores in 2005-06, BSNL reportedly incurred losses of Rs4,086/- crores in 2008-09.
As per IT Var News , Mr. Rajeev Chandrasekhar, independent Member of Parliament and Member of the Standing Committee on Finance, expressed grave concern about the deteriorating financial situation and abysmal state of affairs of Bharat Sanchar Nigam Limited (BSNL), anavratna public sector unit. Mr Chandrasekhar appealed to Prime Minister Manmohan Singh to intervene immediately to save BSNL from collapse as well as to prevent a downward spiral in its valuation.

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