Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

COAI asks government to provide ‘oxygen’ to telecom companies

PTI
Updated: November 18th, 2019, 18:11 IST
in Business
0
Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

New Delhi: The government should grant telecom companies a three-year moratorium followed by an extended timeline for payment of all statutory dues at easier interest rates, as the telecom sector is reeling under massive losses after the Supreme Court ruling on AGR liabilities, the Cellular Operators Association of India (COAI) said Monday.

COAI director general Rajan Mathews told this agency that operators need ‘oxygen’ and urged the government to take a call on debt restructuring of all the dues that telecom operators owe to the government.

Also Read

Donald Trump

Trump’s tariff move on India over Russian oil purchase backfires

6 hours ago
Donald Trump

India ‘kills’ us with tariffs: Trump

10 hours ago

Mathews said most 4G licences have 11-year validity left, and that the government could pack in another 10 years, thus allowing operators to pay back all the outstanding dues spread over the entire licence period. “It is also time to redefine AGR (adjusted gross revenue) prospectively,” Rajan Mathews said.

The telecom industry has been haemorrhaging, with combined losses of listed mobile network firms surpassing Rs 1 lakh crore in the September-ended quarter.

Last week, India’s two leading telecom operators Vodafone Idea and Bharti Airtel reported a combined loss of Rs 74,000 crore for the second quarter ended September 2019, mainly on account of statutory dues arising from the recent Supreme Court order on AGR.

While Vodafone Idea posted a loss of Rs 50,921 crore, the highest-ever quarterly loss by any company in India, Airtel reported a loss of Rs 23,045 crore.

In another development Friday, Reliance Communication posted a consolidated loss of Rs 30,142 crore for the July-September 2019 period due to provisioning for liabilities after the Supreme Court ruling on statutory dues — marking second-highest loss posted by any Indian company till date.

Airtel, Vodafone Idea and other telecom operators have to pay the government a whopping Rs 1.4 lakh crore following the Supreme Court order that has sent shock waves through an industry already grappling with past losses and billions of dollars in debt.

According to latest estimates by the telecom department, Airtel faces a liability of around Rs 62,187 crore (including share of Tata Group of companies and Telenor India), while Vodafone Idea may have to pay about Rs 54,184 crore. The remaining liability is with state-owned BSNL and MTNL and some of the shut or bankrupt telecom companies.

PTI

 

Tags: AirtelCOAIGovernmentLossesSupreme Courttelecomvodafone idea
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

#MyPaperBagChallenge

Rajashree Manasa Mohanty

December 12, 2019
#MyPaperBagChallenge

Shreyanshu Bal

December 12, 2019
#MyPaperBagChallenge

Tapaswini Mallick

December 12, 2019
#MyPaperBagChallenge

Mandakini Dakua

December 12, 2019
#MyPaperBagChallenge

Lopali Pattnaik

December 12, 2019
#MyPaperBagChallenge

Jyotshna Mayee Pattnaik

December 12, 2019
#MyPaperBagChallenge

Amritansh Mishra

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Parbati Mohanty

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Bijswajit Pradhan

December 12, 2019
#MyPaperBagChallenge

Swarit Praharaj

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar

December 12, 2019
#MyPaperBagChallenge

Arya Ayushman

December 12, 2019
#MyPaperBagChallenge

Saishree Satyarupa

December 12, 2019
#MyPaperBagChallenge

D Rama Rao

December 12, 2019
#MyPaperBagChallenge

Anup Mahapatra

December 12, 2019
#MyPaperBagChallenge

Mrutyunjaya Behera

December 12, 2019
#MyPaperBagChallenge

Keshab Chandra Rout

December 12, 2019
?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
#MyPaperBagChallenge

Dibya Ranjan Das

December 12, 2019
#MyPaperBagChallenge

Adyasha Priyadarsani Sendha

December 12, 2019
#MyPaperBagChallenge

Diptiranjan Biswal

December 12, 2019
#MyPaperBagChallenge

Anasuya Sahoo

December 12, 2019
#MyPaperBagChallenge

Akriti Negi

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar Ghibela

December 12, 2019
#MyPaperBagChallenge

Archit Mohapatra

December 12, 2019
#MyPaperBagChallenge

Manas Samanta

December 12, 2019
#MyPaperBagChallenge

Akshaya Kumar Dash

December 12, 2019
#MyPaperBagChallenge

Pitabas Tripathy

December 12, 2019
#MyPaperBagChallenge

Sipra Mishra

December 12, 2019

Archives

Editorial

Thai Soup

Democracy
September 3, 2025

I t is claimed by many that dynastic politics is a bane for democracy in many countries, including India, as...

Read moreDetails

Shooting the Messenger

journalists
September 2, 2025

A great truth about the ongoing and seemingly unending spiral of violence, death and devastation in Gaza is that truth...

Read moreDetails

Endless Drift

Modi, Xi, Trump
September 1, 2025

Over the past two decades, India has focused on forging a strong alliance with the United States, aiming to secure...

Read moreDetails

Diplomatic Delusion

Rights & Restrictions: AAKAR PATEL
August 31, 2025

To be able to correct a problem, we first have to acknowledge that a problem exists. If we do not...

Read moreDetails
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Editorial
  • Opinion
  • Sports
  • About Us
  • Advertise
  • Contact Us
  • Jobs
Developed By Ratna Technology

© 2024 All rights Reserved by OrissaPOST

  • News in Odia
  • Orissa POST Epaper
  • Video
  • Home
  • Trending
  • Metro
  • State
  • Odisha Special
  • National
  • International
  • Sports
  • Business
  • Editorial
  • Entertainment
  • Horoscope
  • Careers
  • Feature
  • Today’s Pic
  • Opinion
  • Sci-Tech
  • About Us
  • Contact Us
  • Jobs

© 2024 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2024 All rights Reserved by OrissaPOST