The Centre is considering a proposal to waive to off a significant part of the Rs 1,6750.58 crore that the public sector telcos — BSNL and MTNL — will have to pay for 3G spectrums in a bid to safeguards the cash reserves of the two firms. This may also extend to monies that the two telcos will have to cough up for the broadband wireless spectrum auctions that it slated to begin later this week or Monday (May 24).
The government is also examining two alternative proposals to stabilise the financials of BSNL. The first involves refunding a significant amount it will have to pay for 3G spectrums. But if this refund option is unviable, the Centre may allow BSNL to defer payment for these airwaves until the telco completes its restructuring process.
This will give BSNL a 24-month window to pay for the airwaves, unlike private operators which have only have 10 day to cough up the bid amount. In addition to the Rs 10,186.58 crore that BSNL will have to pay for 3G airwaves and assuming that it will have to shell out upwards of another Rs 7,000 crore for broadband spectrum, this will wipe out nearly 50% of its cash reserves, which stands at Rs 36,392 crore.
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BSNL, MTNL may get waiver of 3 G licence fee
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