Govt keeping watch on telcos' financial stress: Sinha
Sinha refused to comment saying the matter will be dealt with through discussion with operators.
New Delhi: Communications Minister Manoj Sinha on Wednesday said the government is keeping a watch on the financial stress in the telecom sector and assured the industry of an "intervention" when required.
Addressing a conference at the India Mobile Congress, Sinha said that "legal opinion" is being taken on certain aspects of inter-ministerial panel's proposals related to stress in the Indian telecom sector but did not elaborate.
Admitting that some players in the sector were feeling financially stressed, he said telecom is a "success story" and the government will ensure its continuity.
"Government is aware of sector's financial stress and when required we have intervened. And in future also, if required, we will intervene," Sinha said.
On sector rivals Mukesh Ambani and Sunil Bharti Mittal advocating a collaborative approach for growth of the sector, Sinha hoped that the two giants will come together for realising the 'Digital India' dream.
Asked about the key players publically lamenting India's regulatory framework and high levies, Sinha refused to comment saying the matter will be dealt with through discussion with operators.
He further that an inter-ministerial group (IMG) was constituted to recommend measures to mitigate financial difficulties of the sector and its report had been placed before the Telecom Commission.
"IMG was constituted and its report was discussed at the last Telecom Commission meeting...some legal opinion is being sought...it will be decided in the next meeting," he said.