“Government also approved to administratively allot spectrum for providing 5G services to BSNL/MTNL, spectrum for maintaining current operations and future services on the same principle as proposed for allotment of spectrum for 4G services,” Prasad said in a written reply to the Rajya Sabha.
5G services are yet to start in India.
The minister said the government has allocated funds of Rs 24,084 crore for spectrum for 4G services in 2021-22 and BSNL invited an expression of interest (EoI) on January 1 for prior registration and proof of concept (PoC) for its upcoming 4G tender.
He said BSNL will manage the mobile services of MTNL in Delhi Licensed Service Area (LSA) from April 1.
Prasad said both the loss making companies have become EBITDA positive for the half year ended September 2020 and nine months ended December 2020.
As part of the revival package, the government also approved sovereign guarantees for bonds of Rs 15,000 crore to be raised by BSNL and MTNL for their debt restructuring.
“BSNL and MTNL have raised Rs 8,500 crore and Rs 6,500 crore respectively on the basis of sovereign guarantee extended by the Government,” Prasad said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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