CAG pulls up BSNL, MTNL, ITI for losses

Category: Government | No Comments | Posted on March 19, 2006

According to a latest report of the Comptroller and Auditor General (CAG), three telecom PSUs – BSNL, MTNL and ITI – have suffered a loss in revenues of Rs 527.52 crore during 2004-05 due to various reasons including short or non recovery of dues or unproductive expenditure. BSNL was on the top with revenue loss worth Rs 405 crore followed by ITI with Rs 66.89 crore and MTNL with Rs 55.50 crore.

“BSNL has failed to safeguard its financial interests, by not obtaining appropriate bank guarantees from the ISD operators as per the agreement and also delayed disconnection of Point of Interconnection between October 2003 and April 2005 of Data Access (India) Ltd resulting in non-realisation of interconnection charges of Rs 219.62 crore,” CAG said.

“The company (MTNL) invested surplus funds of Rs 100 crore in another PSU

Comments

Leave a Reply

Name (required)

Email Address(required)

Website

Comments