Govt to take corrective steps for ensuring orderly growth of telecom sector: Sinha

22 June, New Delhi

Communications Minister Manoj Sinha today assured telecom industry that the necessary corrective steps will be taken by the Government for ensuring orderly growth in this sector in terms of services to the common-man including in rural areas.

also assured the industry to provide all possible supports on the issue of financial stress being faced by most of the telecom operators in the country.

During a discussion with promoters of telecom service providers here today, Sinha said that government had already formed an Inter-Ministerial Group (IMG) to examine systematic issues affecting viability and repayment capacity in telecom sector and furnish recommendations for resolution of stressed assets at the earliest and recommend policy reforms and strategic interventions for telecom sector.

He said, “The IMG has held wide consultations with Banks and telecom service providers and is likely to submit its report shortly.””Once the report comes in, the Ministry will decide on the future course of action in this regard,” Minister said.

The meeting held today amidst reports of financial stress in the sector, in which representatives of Department of Financial Services and State Bank of India were also present.The industry put forward the problems of telecom sector causing financial stress on the companies and roadmap for addressing the situation.