Uncategorized

Reliance Jio won’t opt for 4-year AGR, spectrum payment moratorium: Report

Reliance Jio has informed Department of Telecom that it will not opt for four-year spectrum payment moratorium being offered by the government to telecom companies as part of a relief package, news agency PTI reported quoting unnamed sources.

Both Bharti Airtel and Vodafone Idea have said they will avail the four-year moratorium on payment of dues.

Sources told PTI that Jio has conveyed to Department of Telecom (DoT) that it will not opt for four year dues moratorium.

The option of dues moratorium was offered by the government to telcos as part of a recently-announced relief package for the telecom sector.

However, the telecom companies will have to pay interest during the moratorium period. Also, the government will have an option to convert the due amount pertaining to the deferred payment into equity at the end of the moratorium/deferment period.

The measures, aimed at providing relief to companies such as Vodafone Idea that have to pay thousands of crores in unprovisioned past statutory dues, also include the scrapping of Spectrum Usage Charge (SUC) for airwaves acquired in future spectrum auctions.

In line with the reforms unveiled for the telecom sector, the government recently wrote to telcos including Bharti Airtel, Vodafone Idea and Reliance Jio asking them to convey by October 29 if they would be opting for the four-year dues moratorium.

The DoT has earlier given 90 days time to the operators to indicate if they want to opt for converting the interest amount pertaining to the moratorium period into equity

Subscribe to Mint Newsletters * Enter a valid email * Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint.
Download
our App Now!!


Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
%d bloggers like this: