Vodafone Idea Informs Telecom Department That It Won't Be Able to Pay AGR Dues Without Immediate Government Bailout
Recently Bharti Airtel deposited Rs 10,000 crore as part of its adjusted gross revenue (AGR) dues to the government after being rapped by the Supreme Court. The Department of Telecommunications (DoT) had issued fifth and final notice to telecom operators on February 14 for making payment immediately.
Mumbai, February 27: Vodafone Idea has warned the telecom department that it will not be able to pay the Supreme Court-ordered Rs 53,000-crore AGR if they are not provided with an immediate bailout. The operator which has till now paid Rs 3,500 made it clear that its survival depends now totally depends on a government bailout. According to a Times of India report, this could come in the form of staggered payment option, reduction in licence fee and spectrum charges that telecom companies need to pay.
The report further mentions that the operations of the operator were crippled due to “prolonged predatory pricing, and the recent AGR judgement”. It had further requested the government to reduce the licence fee on telecom players from 8 percent to 3 percent. The company also said that the spectrum usage charge which was fixed at 3 percent should be brought down to zero or a uniform rate of 1 percent. Bharti Airtel Pays Rs 10,000 Crore to Telecom Department As Part of AGR Dues.
Recently Bharti Airtel deposited Rs 10,000 crore as part of its adjusted gross revenue (AGR) dues to the government after being rapped by the Supreme Court. The Department of Telecommunications (DoT) had issued fifth and final notice to telecom operators on February 14 for making payment immediately.
(The above story first appeared on LatestLY on Feb 27, 2020 11:35 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).