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Rajya Sabha
The Minister of State for Communications & Information Technology, Dr. Shakeel Ahmad, has informed the Rajya Sabha that the Government has taken the following steps for the revival of Indian Telephone Industries (ITI), Bangalore:-
(i) Government has sanctioned a revival package of Rs. 1024.77 crore during the year 2004-05 to support VRS expenditure, equity infusion, induction of new technology products;
(ii) Reservation of 30% of orders by BSNL and MTNL towards ITI;
(iii) Advance payment of 75% of the purchase order value against the reserved quota orders; and
(iv) Assistance by way of Government guarantee to raise loan/bonds from market.
The above information was given by Dr. Shakeel Ahmad, today in the Rajya Sabha in a written reply to the question by Shri K.B. Krishna Murthy.
RM/AMA – 250805 ITI USQ 3154
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