State-run telecom operator MTNL has appointed NK Yadav as its new chairman and managing director (CMD). MTNL said that PK Purwar has relinquished his charge as CMD of the company and NK Yadav’s appointment was effective from June 8, in a notification to the Bombay Stock Exchange.
MTNL director finance PK Purwar had been given additional charge of the post after the company’s CMD A.K. Garg retired on 30 May 2014. Also, Purwar had been selected for the post of MTNL CMD by Public Enterprises Selection Board (PESB) in November 2013.
For the quarter ended March 31, MTNL posted a loss of Rs 595.11 crore, however, it was down 18.57% from Rs 730.83 crore loss in the preceding quarter.
MTNL to go on: MTNL was among the five public sector undertakings (PSUs) the government planned to shut down, heavy industries minister Anant Geete had said during Question Hour in the Lok Sabha, adding that its employees were being offered a “very good” VRS package, in March this year. However, union minister for communications and information technology Ravi Shankar Prasad later clarified saying the government did not plan to shut down the loss-making operator, and would instead take various measures to revive it.