Bharti Airtel paid Rs 8312.40 crore, nearly $1 billion, to the Department of Telecom (DoT) for 5G spectrum on August 17.
Bharti Airtel Chairman Sunil Mittal (Image: Reuters)
Bharti Airtel chairman Sunil Bharti Mittal praised the department of telecommunications (DoT) for the ease of doing business as Airtel was allotted 5G spectrum bands within hours of paying the dues.
“Yesterday Airtel paid Rs 8312.4 cr towards spectrum dues and was provided the allocation letter for the designated frequency bands within hours,” he said in a statement on August 18.
“E band allocation was given along with spectrum as promised. No Fuss, No Follow Up, No running around the corridors and No tall claims. This is ease of doing business at work in its full glory,” he added.
He noted, “In my over 30 years of first-hand experience with DOT, this is a first ! Business as it should be.”
“Leadership at work-Right at the top and at the helm of telecom. What a Change ! Change that can transform this nation – power its dreams to be a developed nation,” the boss of India’s second-largest telecom player said.
The Sunil Mittal-led telco has paid four years of 2022 spectrum dues upfront. “The company believes that this upfront payment, coupled with the moratorium on spectrum dues and AGR-related payments for four years will free up future cash flows,” Bharti Airtel said.
Over last one year, Airtel has also managed to clear Rs 24,333.70 crores of deferred spectrum liabilities, much ahead of schedule.
Airtel is now hopeful that the future business proceeds can be deployed to concentrate on 5G rollout.