MTNL seeks Rs 1,151.65 cr for sovereign guarantee bonds interest in FY25

Debt-ridden state-run telecom firm MTNL has sought Rs 1,151.65 crore for payment of interest arising out of sovereign guarantee bonds in the current fiscal, Parliament was informed on Thursday.

Minister of State for Communications Pemmasani Chandra Sekhar in a written reply to the Rajya Sabha said the government has in fact taken various steps for revival of MTNL and BSNL in 2019 and 2022 that include revival package to both companies.

"Mahanagar Telephone Nigam Limited (MTNL) has sought Rs 1,151.65 crore to meet the payment of interest on Sovereign Guarantee Bonds for Financial Year 2024-25," Sekhar said.

The minister was replying to a question on demands of funds by MTNL from the government to pay interests on debt obligations, details of the demand and the reasons for the state-owned telecom company MTNL making losses.

He said the government allocated Rs 69,000 crore in the first revival package in 2019 to BSNL and MTNL that brought down operating costs.

"In 2022, revival packa