FM rejects telecom firms demand to refund 3G money

Posted By: Abdul Nisar
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Bangalore, Jul 30: Finance Minister Pranab Mukherjee has rejected the demand to refund 3G and broadband spectrum money by two state-run telecom firms.

On Friday, Jul 30 Business Standard reported that Finance Minister refused request put forth by Telecoms Minister A Raja to refund $6.4 billion paid by Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL) by saying the legal complications that might arise if the fees were refunded.

Earlier on Monday, Jul 19 the Joint Action Committee (JAC), represented by three lakh executives and non-executives of BSNL had asked the government to refund the money.

BSNL has paid Rs 10186.58 crore and MTNL paid Rs 6564 crore for the 3G spectrum. Both BSNL and MTNL had taken loan to make the payment.

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