Three Telcos Keen on Converting Dues into Equity, Says Telecom Minister
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Three Telcos Keen on Converting Dues into Equity, Says Telecom Minister

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The authorities is analyzing proposals from three telecom corporations eager to go for changing curiosity on deferred spectrum and adjusted gross income (AGR) dues into fairness, Telecom Minister Ashwini Vaishnaw stated within the Rajya Sabha on Friday.

The minister — responding throughout Question Hour to a question if the federal government has any fairness in non-public telecom agency Vodafone — stated a one-time choice was given to telecom corporations to both pay upfront the curiosity on AGR dues or convert it within the type of fairness in lieu of that as a part of the structural reforms introduced in September final yr.

The one-time choice was given to telecom corporations to make sure the federal government’s income is just not compromised, he stated.

The minister stated, “Three companies have exercised that option. We have received their letters and we are examining them.” The choice was additionally given as a result of the telecom sector has been going via a troublesome part for a few years, resulting from which, the stability sheet of many corporations is just not good right now regardless of heavy progress within the telecom sector, he added.

When BJP chief Ok J Alphons complained within the House that he was going through poor telephone connectivity within the coronary heart of the capital metropolis and even in his house state Kerala, the minister requested him to register a grievance earlier than TRAI which has arrange a cell to look into the matter.

Responding to BJD member Sujeet Kumar’s request to expedite Bharatnet challenge in KVK (Krishi Vighyan Kendras) districts of Odisha, the minister stated the central authorities has recognized 7,000 new telecom websites throughout the nation, particularly in areas which aren’t linked.

About 3,933 websites are recognized for Odisha, he stated and requested the BJD chief to strategy the state authorities to shortly establish the websites for set up of towers.

The minister additionally stated that the Bharatnet challenge is carried out by state governments and the implementation is just not all “satisfied” in Odisha.

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