A central government panel of top officials recently pulled up state-owned telecom service provider BSNL and the department of telecommunications (DoT) for their slow pace of asset monetisation, which has resulted in the department significantly missing its targets.
This has jeopardised the overall monetisation plan for the telecom sector, according to government officials and executives in the know.
The monetisation target in the telecom sector had to be revised due to a change in BSNL's approach towards its mobile phone tower monetisation. It shifted from sales to a lease-based model, officials told Business Standard.
This was pointed out in an inter-ministerial meeting of secretaries, part of the core group on asset monetisation (CGAM), chaired by the Cabinet Secretary in August.
The CGAM undertakes periodic reviews to monitor the progress of transactions and resolve structural issues for projects in sectors covered under the National Monetisation Pipeline (NMP).
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