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MTNL Seeks Refund For BWA Spectrum

The government operated telecom operator, Mahanagar Telephone Nigam Limited(MTNL) is seeking a refund of INR 4,130 crore from the centre which it shelled out to purchase Broadband Wireless Access(BWA) spectrum in the year 2010.

The telecom operator is also on a lookout for a new monetisation scheme which could fetch it INR 20,000 crore. In a statement published in ET Telecom, RK Purwar, chairman for ET said,’’

“We hope to get somewhere around Rs 20,000 from the monetisation of 49 assets, and clearance for a refund of Rs 4,130 crore which is under active consideration,”

He also informed that the additional funds would be utilised in revamping networks and cash flow. The telecom operator acquired BWA Spectrum in the year 2010 to offer 4G services.

MTNL which offers services in the cities of Delhi and Mumbai is facing a debt of INR 19,000 crore plus and registered a loss of INR 832.26 crore in the quarter ended December 2018.

 

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