By Sailesh Yadav
New Delhi [India], November 6 : The government is planning to clear the liabilities of debt-laden telecom companies MTNL and BSNL through an asset monetisation plan worth Rs 9,000 crore in the next financial year (2027-28), according to sources.
The government has "more than enough cushion" to meet the liabilities of telecom and postal public sector undertakings (PSUs), estimated at nearly Rs 50,000 crore, including sovereign guarantee bonds worth around Rs 30,000 crore. 
Additionally, sources said the government has lined up an annual asset monetisation pipeline of Rs 4,000–5,000 crore to meet these obligations, while describing the earlier state of property records as "a huge mess", with the Department of Posts (DoP), Department of Telecommunications (DoT), BSNL and MTNL occupying properties belonging to one another.
Over the last two years, the departments have sorted out ownership, and about 862 properties have been settled with the principle that each entity keeps what belongs to it.
DoT has issued a circular and a No Objection Certificate (NOC), and BSNL and DoP are expected to issue NOCs to each other shortly to settle title issues.
Officials said the government is also working to resolve land record mutations that have remained pending for decades across several public sector undertakings (PSUs).
Around 2,500–3,000 properties under the Department of Posts (DoP) and nearly 4,000 properties belonging to BSNL and the Department of Telecommunications (DoT) are still awaiting mutation. However, about 6,000–7,000 properties have been cleared over the past 12–18 months.
According to sources, properties will be referred to the National Land Monetisation Corporation (NLMC) only after all 32 fields of its mandatory checklist are completed, ending the earlier practice of exchanging incomplete documents.
Officials said around 40 properties are currently with the NLMC, while the Rs 9,000 crore asset monetisation pipeline has been finalised. Sources also clarified that the government does not intend to sell capital assets to meet revenue expenditure.
"That's the worst thing to do... I will never allow that," an official said. 
According to sources, salaries and other operational expenses will be met through revenue generated by the respective entities, with MTNL's rental income alone sufficient to cover its employee costs.