The Centre has offered ex-gratia pension plus pay-out to nearly 93,000 Bharat Sanchar Nigam (BSNL) and Mahanagar Telephone Nigam (MTNL) employees who retired on January 31, The Indian Express reported.

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In a move that will bring relief to around 93,000 retired staff of Mahanagar Telephone Nigam Limited (MTNL) and Bharat Sanchar Nigam Limited (BSNL), the government has announced that they will be given ex gratia and pension pay out under the Voluntary Retirement Scheme (VRS).

The decision comes as a part of the government’s efforts to revive the two ailing state-owned telecom companies, which have been struggling with mounting losses and financial woes.

Under the VRS, the retired staff of MTNL and BSNL will receive a one-time ex gratia payment, as well as their pension pay out, helping them to sustain their livelihood in their post-retirement years.

This move is particularly significant as it will provide much-needed financial support to the retired employees, many of whom have dedicated their entire professional lives to these public sector companies.

The VRS was offered to the employees of MTNL and BSNL as part of the government’s revival plan for the two telecom companies. The scheme aimed to reduce the employee count and the financial burden on the companies, while also providing an attractive exit option for those who were willing to voluntarily retire.

The implementation of VRS has been a crucial step in the government’s efforts to turnaround the fortunes of MTNL and BSNL, and the decision to provide ex gratia and pension pay out to the retired staff is a welcome move that will provide them with much-needed financial security.

The government’s decision to provide ex gratia and pension pay out to the retired staff of MTNL and BSNL under the VRS is a testament to its commitment to the welfare of its employees, even after their retirement. It also reflects the government’s recognition of the invaluable service rendered by these employees during their tenure with the public sector companies.

Overall, this move is a positive development that will undoubtedly bring relief and happiness to the retired staff of MTNL and BSNL, who can now look forward to a secure and comfortable retirement, thanks to the support extended by the government.