Telecom players given 3 months to set right FDI limit

New Delhi, July 4 (UNI) Government today said it has notified extension of time for telecom service providers to adjust their FDI limit in line with the conditions set out in the November 3, 2005 Press Note No 5.

The extension of time for adjusting the FDI limit as per the coditions stipulated earlier will be for three months upto October 2, 2006, an official release here said.

FDI upto 74 per cent is allowed in the telecom sector and it so happened that many of the service providers exceeded the limit or did not follow the procedure, advertantly and inadvertantly.

These players now get three months time to set their house in order.

UNI PC VJ KN1329