Profit

Profit This Week: Cabinet to take final call on spectrum pricing; AI, Kingfisher operations suffer

PUBLISHED ON: July 7, 2012 | Duration: 16 min, 19 sec

   
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This week, the Empowered Group of Ministers on spectrum was finally re-constituted with 7 members and Home Minister P Chidambaram as its Chairman. However, the Cabinet will take final call of spectrum pricing and one time fee. Telecom companies can continue 3G roaming pacts till a consecous is reached. Mauritius Foreign Minister said that his country is willing to reassess the bilateral tax treaty with India to prevent misuse. Despite the Delhi high court's order to striking pilots to resume duty, Air India operations continued to suffer. Kingfisher Airline flights were disrupted again this week as pilots went on strike again over non ayment of dues. Lenders to debt-ridden Vijay Mallya's Kingfisher Airlines took up the proposal to liquidate the KFA office house in Mumbai and the villa in Goa to recover over Rs 135 crore.
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