EGoM to discuss spectrum sale today

New Delhi, Aug. 7 (ANI): The Empowered Group of Ministers ( EGoM) on Telecom, headed by Finance Minister P. Chidambaram , will meet to discuss the new schedule of spectrum auction, here on Tuesday.

The ministerial panel is scheduled to discuss the new time-line for the auction of airwaves that was to be prepared in consultation with the auctioneer-agency selected to operate the auction process.

The Department of Telecommunications (DoT) has reportedly finalised Gurgaon-based Times Internet as auctioneer to conduct the auction of around 13.75 Mhz of spectrum in 1800 Mhz band and 3.75 Mhz in 800 Mhz band.

The next step for the DoT will be to issue the Information Memorandum (IM) that will carry complete details on auction of spectrum.

As per the last schedule, the DoT had plans to issue IM on August 27, four days before the August 31 deadline set by the Supreme Court to complete the process.

The government will thus have only four days to complete 13 processes before actual bidding for airwaves starts.

The steps include responding to queries of potential bidders, inviting applications and giving time to companies for submissions, finalising eligible bidders, public information sessions and mock auction.

Earlier, the Cabinet had fixed Rs.14,000 crore for 5 Mhz spectrum in 1800 Mhz band and Rs.18,200 crore for 5 Mhz spectrum in 800 Mhz band as floor price. (ANI)