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AGR Ruling Will Lead to Collapse of Indian Telecom Sector – FICCI

4g/lte News - Published on Mon, 02 Dec 2019

Image Source: AGR Ruling
The Federation of Indian Chambers of Commerce and Industry in a letter to Finance Minister Ms Nirmala Sitharaman said "Given the multiplier impact the telecom sector has on the economy and various intermediary industries, it is of critical importance that the sector remains healthy, dynamic and vibrant. This ruling will have a cascading effect and will severely impact many other companies in multiple sectors such as internet service providers, satellite communications providers, cable operators and even companies in power, steel and railways sector. As you are aware, currently the sector is saddled with a massive debt and has almost no appetite to invest in networks and future technologies. Adding further woes to the sector, the recent ruling on the AGR, dues of the telecom service providers will lead to an unfortunate and disastrous collapse of the already battered sector.”

Telecom Minister Ravi Shankar Prasad in Parliament last week said that there is no proposal before the government at present on waiver of penalties and interest on outstanding licence fee payments based on adjusted gross revenue or on extending the timelines for telcos to pay up their statutory dues.

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Posted By : TelecomGuru on Mon, 02 Dec 2019
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