CoS to suggest measures to mitigate financial stress in telecom sector

Days after the Supreme Court ordered telecom companies to pay as much as Rs 1.42 lakh crore in past statutory dues, the government is constituting a Committee of Secretaries (CoS) under the Cabinet Secretary to suggest measures to mitigate financial stress in the sector.

While the terms of reference of the panel do not explicitly mention the Supreme Court ruling of October 24, it has been asked to look at suggestions for deferring of payments for spectrum as well as re-look at the obligation to fund a universal service fund for operators.

The panel -- which will comprise secretaries of ministries of finance, telecommunication and law, among others -- is expected to meet shortly and submit recommendations in a time-bound manner, sources said.