Minister – The New Indian Express
NEW DELHI: Telecoms Minister Ashwini Vaishnaw said on Friday the government is considering proposals from 3 telecom operators who have opted to convert deferred spectrum interest and Adjusted Gross Revenue (AGR) levies into equity clean.
The minister, while answering a question to Rajya Sabha, said that a unique option had been given to telecom companies either to pay interest on AGR dues up front or convert them into equity in the under the reforms announced in September last year. . “Three companies exercised this option. We have received their letters and we are reviewing them,” the minister said.
On the issue of BJP leader KJ Alphons who complained of facing network problem in the heart of the capital and even in his home state of Kerala, Vaishnaw said the problem was related to the Telecommunications Regulatory Authority of India (TRAI) and requested that he lodge a complaint there.
In January, VIL and Tata Tele Services (Mumbai) decided to convert the spectrum interests and AGR royalties into shares. The government is the main shareholder of Vodafone with 35.8% of the shares and it holds 9.5% of the capital of Tata Tele Service (Mumbai), a subsidiary of Tata Teleservices Ltd (TTSL).