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FM keen on early spectrum auction
Finance Minister P Chidambaram is likely to meet DoT soon to discuss schedule for the auction process.
Updated : Mar 16, 2018, 02:30 AM IST
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NEW DELHI: Concerned over delay in auction process for 3G spectrum, which can fetch up to Rs 25,000 crore to the exchequer, Finance Minister P Chidambaram is likely to meet DoT soon to discuss schedule for the auction process.
The minister has expressed concern over the delay in commencing 3G/BWA spectrum allocation process through auction, Finance Ministry said in a communication to Telecom Secretary Siddartha Behura.
"Finance Minister would like to discuss the time schedule decided by DoT in this regard as soon as Secretary, Department of Economic Affairs returns from the annual meetings of World Bank and IMF in Washington," it said.
Now that the DEA Secretary Ashok Chawla is back from Washington, sources said, the meeting can take place any time.
In the meantime, Communications and IT Minister A Raja on Wednesday said that auction would take place as per schedule and there would be no delay.
DoT has finalised Rothschild as e-auctioning agency to conduct auctioning of spectrum. However, some of the players have questioned the decision to finalise Rothschild, saying itwas the sole bidder, and therefore, may lack transparency.
DoT has pegged the reserve price of 3G spectrum for pan-India operations at Rs 2,200 crore but the government is expecting aggressive bidding for the same, as it has allowed foreign players also to participate in the auction.
Officials, however, said that the ongoing global financial meltdown could spoil the party as the foreign as well Indian players were facing liquidity crunch.
"We are not delaying the 3G auction process as of now," Raja said emphasising there is no question of stalling or delaying the auction process.
The third-generation or 3G spectrum is scheduled to be auctioned by December-end.
Commenting on the reports that the ministry may allow the telecom firms to pay the fee in installments, Raja said there was no such provision as of now.
"There is no such move right now... The current credit crunch would be taken into account but that does not mean we will dilute the law," he added.
"If the situation warrants, I will talk to Prime Minister and Finance Minister," he said.
