New Dehli, June 26: A meeting has taken place recently. The inter-ministerial group (IMG) formed by the government for looking into issues which cause financial problems faced by the telecom sector will submit its recommendations to the telecom commission within a month.
The central government has set up IMG on May 16 to examine the problems faced by the telecoms for the repayment of loans. The mandate of the group was to suggest
* Solution for resolution of stressed assets
* policy reforms if required
* Strategic government intervention for the telecom sector.
Government officials said the recommendations will be approved by the cabinet after the telecom commission suggests its view. Currently, experts say that telecom companies are under serious stress because of the following
* Abundant caution by bureaucrats in taking a decision relating to the telecom sector.
* Banks are not funding because of rising NPAs.
* Supreme Court order in 2 G scam to cancel licenses.
The sector currently has a cumulative debt of Rs 4.6 lakh crore. Let's wait till next month so that IMG recommendations are out in public domain.