New Delhi: Sunil Bharti Mittal, Founder and Chairman of Bharti Enterprises, on Thursday hailed the Indian government's ease of doing business initiative, after the company received an allocation letter for the designated 5G frequency bands "within hours" of making payments.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Bharti Airtel on Wednesday said it paid Rs 8,312.4 crore to the Department of Telecom (DoT) towards dues for spectrum acquired in the recently concluded 5G auctions. Airtel paid four years of 2022 5G spectrum dues upfront.

"Airtel paid Rs 8,312.4 crore towards spectrum dues and was provided the allocation letter for the designated frequency bands within hours. E band allocation was given along with spectrum as promised," Sunil Mittal said in a statement.

"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.

Sunil Mittal said that in his 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," he added.

Over the last one year, Airtel has also cleared Rs 24,333.7 crore of its deferred spectrum liabilities much ahead of scheduled maturities.

According to the company, the upfront payment, coupled with the moratorium on spectrum dues and AGR-related payments for four years, will free up future cash flows and allow Airtel to dedicate resources to single-mindedly concentrate on the 5G roll out.

The Indian government sold 5G spectrum worth over Red 1.50 lakh crore, led by Reliance Jio, Airtel, Vodafone Idea and a unit of Adani Group.