Relief for telecom sector, spectrum payment deferred to 16 years

The Telecom Commission on Friday approved the much-awaited extension of deferred spectrum payment liability till 16 years, an official source said here.

The panel has also approved the shift from pending lending rate (PLR) to marginal cost of funds based lending rate (MCLR) regime for calculation of interest on delayed payment of licence fees and spectrum usage changes plus 400 points.

It means the interest rate on delayed payments will come down to 12 per cent.

Commenting on the developments, Rajan S. Mathews, Director General, Cellular Operators' Association of India (COAI) told IANS: "We appreciate the government for addressing our