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The
Government today asked the state owned telecom operator BSNL and its
employees’ Unions to carry forward healthy discussions on the BSNL IPO
(Initial Public Offering) issue. Minister of Communications and Information
Technology Thiru A. Raja met representative of
the Unions and BSNL officials to discuss the matter. He said, the IPO will
lead to better social and economic security of employees. The Minister said
that the company and the unions should get engaged in rounds of talks in
the near future.
Mr. Raja pointed out that the employees will get Employees Stock Option
(ESOP) at liberal and concessional rate and will
get ownership right in the company. Enumerating the benefits to the
employees, he said, if an employee gets 500 shares @ Rs.
10/- his net gain would be about Rs. 1.5 lakh.
Thiru Raja allayed apprehensions of the trade
unions regarding the IPO issue and said this would benefit the public sector
telecom giant. He underlined that it will reveal real value of the BSNL. It
will also help in getting ‘Navratna Status’ for
BSNL, which will result in more autonomy. It will increase BSNL rating in
national and international markets, which will result in better business
negotiations in the competitive environment. The Minister said that the
listing of BSNL will require placing of all the accounts of the company in
public domain, which will result in transparency and help in better
resource management.
Press information bureau dated 07-08-2008
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