EGoM to finalise spectrum price on June 21

The Empowered Group of Ministers on telecom , headed by Finance Minister Pranab Mukherjee , will meet on June 21 to decide on the base price of auction of spectrum, sources said.

"It (EGoM meet) is scheduled for June 21 evening," a source said. The meeting was expected to be held on June 20.

The meeting is crucial for the telecom sector as the EGoM will decide on the future course of action by companies.

The issues, specially pricing of spectrum, have to be sorted this month so as to meet Supreme Court set deadline of August 31 to complete spectrum auction.

Also, Mukherjee would resign before he files nomination for the post of President after the return of the Prime Minister from his foreign trip on June 23.

Sectoral regulator TRAI, following a consultation process with industry, recommended the base price of Rs 3,622 for a megahertz of airwaves frequencies to be auctioned and over Rs 18,000 crore price for pan-India operations.