Under stress: Secy panel mulls relief measures for telcos

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Published: November 6, 2019 6:40:35 AM

The view which has emanated so far is that if  no relief is provided in terms of payment of dues, which for the industry runs as high as Rs 1.33 lakh crore, at least one operator may file for bankruptcy.

Supreme Court, AGR, stressed telecom industry, telecom industry, payment of dues, committee of secretariesThe committee held its second meeting on Tuesday and explored various options that can be provided to telecom operators, which include a phased payment of dues.

The committee of secretaries set up to explore a relief package for the stressed telecom industry has in-principle agreed that some sort of relief measures are necessary with regard to payment of dues related to licence fee and spectrum usage charge after the Supreme Court verdict on adjusted gross revenue (AGR).

The view which has emanated so far is that if  no relief is provided in terms of payment of dues, which for the industry runs as high as Rs 1.33 lakh crore, at least one operator may file for bankruptcy. This, in turn, would lead to losses for banks as well as the government.

The committee held its second meeting on Tuesday and explored various options that can be provided to telecom operators, which include a phased payment of dues.

Sources said there is a view that the total amount payable (principal along with penalty and interest) should not be waived of as it will go against the apex court’s order. However, the payments options can be decided in a way which will give some leeway to the operators.

 

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