ITI Palakkad facing financial crisis: RS member

Rajya Sabha member M P Veerendra Kumar claimed that BSNL and MTNL owned Indian Telephone Industries (ITI) in Kerala is experiencing cash crunch and may affect the employees.

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Published : Jul 19, 2019, 11:47 PM IST

New Delhi: Rajya Sabha member M P Veerendra Kumar on Friday, said that state-owned ITI Ltd's unit in Palakkad was facing a serious financial crisis and nearly 450 people would be rendered jobless.

Though the unit was doing exemplary work on different projects, it is yet to realise its dues from different companies, he said during the Zero Hour in the Upper House.

"Due to this non-realisation of funds, a profit-making unit, ITI, is facing an extremely difficult situation in terms of payment of salaries and meeting day-to-day expenditure," he said.

He sought the intervention of telecom minister Ravi Shankar Prasad for release of payments from BSNL AND MTNL.

ITI was the first public sector undertaking of India under the Ministry of Communication.

Also read: Exclusive: India plays major role in Afghanistan peace process, claims Germany

Though the unit was doing exemplary work on different projects, it is yet to realise its dues from different companies, he said during the Zero Hour in the Upper House.

"Due to this non-realisation of funds, a profit-making unit, ITI, is facing an extremely difficult situation in terms of payment of salaries and meeting day-to-day expenditure," he said.

He sought the intervention of telecom minister Ravi Shankar Prasad for release of payments from BSNL AND MTNL.

ITI was the first public sector undertaking of India under the Ministry of Communication.

Also read: Exclusive: India plays major role in Afghanistan peace process, claims Germany

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ITI Palakkad facing financial crisis, 450 employees may be affected: RS member
New Delhi, Jul 19 (PTI) Rajya Sabha member M P Veerendra Kumar on Friday said that state-owned ITI Ltd's unit in Palakkad, Kerala, was facing a serious financial crisis and nearly 450 people would be rendered jobless if it is closed down.
Though the unit was doing exemplary work on different projects, it was yet to realise its dues from different companies, he said during the Zero Hour in the Upper House.
According to him, BSNL and MTNL owed Indian Telephone Industries (ITI), Palakkad Rs 67.33 crore as on June 17 for the works done to them.
"Due to this non-realisation of funds, a profit-making unit, ITI, is facing an extremely difficult situation in terms of payment of salaries and meeting day-to-day expenditure," he said.
He sought intervention of telecom minister Ravi Shankar Prasad for release of payments from BSNL AND MTNL.
"ITI Ltd, Palakkad, in Kerala, is facing a serious financial crisis... And, Sir (Chairman, Rajya Sabha), if it (crisis) leads to its closure, nearly 450 people, working in it, would be jobless," he said.
ITI was the first public sector undertaking of India under the Ministry of Communication. It has six manufacturing units. The Palakkad unit was established in 1976.
He said the Palakkad unit has been functioning as a model unit. PTI NKD
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ITI Palakkad facing financial crisis: RS member

Rajya Sabha member M P Veerendra Kumar claimed that BSNL and MTNL owned Indian Telephone Industries (ITI) in Kerala is experiencing cash crunch and may affect the employees.

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