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IMG to meet next week to finalise its report on debt laden telecom sector

News , August 09, 2017

The inter-ministerial group (IMG) constituted to assess the financial health of the Indian telecom sector will meet next week, on August 14 and 16, 2017, to finalise its report. According to the Department of Telecommunications (DoT) , the draft will be released by the IMG on August 16, 2017.

The IMG was appointed in May 2017 to assess the stress in the telecom sector owing to excessive debt obligations as well as gauge debt repayment capacity of telecom companies. The IMG was given the responsibility of providing recommendations on resolution of stressed assets, policy reforms and strategic interventions to ease the burden on the telecom sector.

Weighed down by a cumulative debt of Rs 4.6 trillion, telecom companies had earlier approached the government for reduction of license fee, spectrum charges and the newly implemented goods and services tax. According to the finance ministry, some sort of relaxations will be provided to allow the sector to revive.

 
 

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