Friday, August 08, 2008

BSNL IPO is go!

Well, here's to the reforms once again. Just as I expected, seems like BSNL is being readied for an IPO. About time too. I've written about privitazing BSNL years ago, when Brazil's state telephone company was sold for close to $14 billion. Well, we're not having an outright sale, but the govt. is at least able to contemplate an IPO because of the absence of the Left. Otherwise, it would have been stonewalled even before it was announced. As expected, the labour unions are in an uproar. To be quite expected, I guess. IPO as they rightly suspect, is the first step towards privatization. Well, moving BSNL ownership to the public would mean that the employees have to get off their butt and do actual work, and the company has to perform, which is anathema for govt. companies.

But with BSNL losing money left and right and private operators minting it, it's only a matter of time before the govt. says enough is enough. Well, bring it on. And let the labour unions whine. There's no Left in the govt. to support them, and they aren't making any real profit either. The message is clear: shape up, or ship out. It's actually a blessing in disguise for BSNL employees, but they wouldn't know it. For them, it means "oh noes, we actually have to work now!". Well, what am I praying for next? Railways! Yeah. That would be one mother of an IPO. And we can probably see Laloo in a suit. How cool is that?

1 comment:

Das said...

BSNL does offer a better service compared to many other telcom. So privatisation may add a little more momentum...!!