SC ruling on 2G will affect other sectors: Sibal
   
Quotes

SC ruling on 2G will affect other sectors: Sibal

Last Updated: Monday, February 20, 2012, 15:06
 
 Comment 0
 
SC ruling on 2G will affect other sectors: Sibal
New Delhi: The Supreme Court judgement cancelling 122 telecom licences allocated on first-come-first serve basis has ramifications for other sectors like mining where the same principle is adopted, Telecom Minister Kapil Sibal has said.

"I have been saying this repeatedly that the impact of the judgement is far-reaching. It has implications not only on the (telecom) sector but on other sectors as well," Sibal told reporters.

The apex court, cancelling licences allocated by the then Telecom Minister A Raja, had stated that auction was the best way for allocation of scarce natural resources. The court had also defined natural resources as both renewable and non-renewable.

Sibal added that the government is studying the implications of the judgement and would take a view on the way how it should proceed.

"We will do that. As and when we do that, we take that decision, it will be placed in public domain," he said.

Sibal cited example of the Mines and Minerals Regulation and Development Act that governs mineral resources in the country and auction of these resources can pose challenges.

"Suppose we want to mine a particular mineral and we find that for the prospecting of that mineral because you don't know what are the quantities of that mineral embedded in earth and you don't know where it is embedded so naturally you will request entrepreneurs to come and prospect," Sibal said.

After entrepreneurs spend USD 600 million on prospecting, and find the mineral, should it be the policy to auction it. These are the questions which need to be looked into, he said.

PTI




First Published: Monday, February 20, 2012, 15:06


Comments


comments powered by Disqus
New Vento 2015
New Vento 2015
Audi all-new SUV Q3
Audi all-new SUV Q3
Indian Billionaire Daughters
Indian Billionaire Daughters
TOP 5  happy cities of India
TOP 5 happy cities of India
Forbes Top 10 Billionaires 2015
Forbes Top 10 Billionaires 2015

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved