New Delhi, NFAPost: Telecom Minister Ashwini Vaishnaw said in the Rajya Sabha that the government is examining proposals from three telecom companies keen to opt for converting interest on deferred spectrum and adjusted gross revenue (AGR) dues into equity.
The minister said a one-time option was given to telecom companies to either pay upfront the interest on AGR dues or convert it in the form of equity in lieu of that as part of the structural reforms announced in September last year.
He further added that the option was also given because the telecom sector has been going through a tough phase for many years, due to which, the balance sheet of many companies is not good today despite heavy growth in the telecom sector.
The minister said, “Three companies have exercised that option. We have received their letters and we are examining them.”
The central government has identified 7,000 new telecom sites across the country, especially in areas which are not connected. About 3,933 sites are identified. The minister also said that the Bharatnet project is implemented by state governments and the implementation is not all “satisfied” in Odisha.
