AGR Dues: Vodafone-Idea Might Pay Rs. 3,500 Crore To DOT Soon

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After paying the first tranche of dues, Vodafone-Idea is reportedly planning to pay another set of dues to the Department of Telecommunication (DOT). The operator is expected to pay Rs. 3,500 crore to the ministry in the coming days.

AGR Dues: Vodafone-Idea Might Pay Rs. 3,500 Crore

 

This announcement comes after DOT announced that it is working on a bailout package for the sector. "The company is exploring its options and is likely to make the payment sometime next week and it could be as early as Monday," a source close to the development was quoted by Economic Times.

Apart from that, the telco has given the self-assessment details to the ministry, which is less than the amount the government has asked them to pay. According to their estimate, they have to pay Rs. 21,533 crore for the AGR. But, the ministry asked them to pay Rs. 53,000 crore. Likewise, Airtel has estimated its dues of about Rs. 18,000 crore, but the ministry wants them to pay Rs. 35,000 crore.

"We have also deposited an additional amount of Rs 5,000 crore, as an ad-hoc payment (subject to the subsequent refund/adjustment to cover differences, if any arising from the reconciliation exercise with the DoT," Airtel recently said in a BSE filing.

It is worth mentioning that the global CEO of Vodafone, Nick Read is in India and met both the finance minister and telecom minister to discuss the current situation of the company and about the package to sustain in the market.

Meanwhile, the PTI report claims that the telecom minister has cleared its stand and said they don't want monopoly and duopoly in the telecom sector. Furthermore, the apex court is going to hear the pleas on March 17, 2020, made by operators for the modification and seeking more time to pay the dues.

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