rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » EGoM on spectrum deferred

EGoM on spectrum deferred

Last updated on: June 21, 2012 18:42 IST

TelecomThe much-awaited meeting of the high-powered ministerial panel on auction of telecom spectrum was deferred on Thursday.

The Empowered Group of Ministers headed by Finance Minister Pranab Mukherjee was first slated to meet at 1730 hrs on Thursday but was postponed to 2030 hrs. It later deferred indefinitely, official sources said.

No reasons were given for the postponement. Also no new dates have been indicated of the next meeting.

The EGoM was slated to discuss crucial issues of high spectrum price recommended by sector regulator TRAI, payment terms and network roll-out obligations for auction of airwaves due before August 31.

For the first time, EGoM was to discuss loan against airwaves which are not a physical asset. Sector regulator Telecom Regulatory Authority of India has recommended an auction start price of Rs 3,622 crore (Rs 36.22 billion) per megahertz of airwaves frequency which amounts to over Rs 18,000 crore (Rs 18 billion) for pan-India business of new companies or companies whose licences were cancelled by Supreme Court on February 2.

© Copyright 2014 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.