New Delhi: 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, Telecom Minister Ashwini Vaishnaw said Friday in the Rajya Sabha.
The minister also responded to BJD member Sujeet Kumar’s request to expedite Bharatnet project in KBK (Krishi Bighyan Kendras) districts of Odisha. Ashwini Vaishnaw said the central government has identified 7,000 new telecom sites across India, especially in areas which are not connected. About 3,933 sites have been identified for Odisha, he said. Vaishnaw also asked the BJD leader to approach the Odisha government to quickly identify the sites for installation of towers.
The minister also said that the Bharatnet project is implemented by state governments. Vaishnaw said the implementation is not all ‘satisfied’ in Odisha.
The minister also responded during Question Hour to a query if the government has any equity in private telecom firm Vodafone. Vaishnaw 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. The one-time option was given to telecom companies to ensure the government’s revenue is not compromised, he said.
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“Three companies have exercised that option. We have received their letters and we are examining them,” Vaishnaw informed.
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, added the minister.
When BJP leader KJ Alphons complained in the House that he was facing poor phone connectivity in the heart of the capital city and even in his home state Kerala, the minister asked him to register a complaint before TRAI which has set up a cell to look into the matter.