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|June 25, 1998||
Swaraj briefs Sinha on DoT's corporatisation
Communications Minister Sushma Swaraj has briefed Finance Minister Yashwant Sinha of the financial implications that would arise from the corporatisation of the Department of Telecommunications.
Among other thing, pension benefits and gratuity liability would mount to Rs 120 billion, she pointed out to Sinha.
When confronted by reporters after her meeting, Swaraj said there would be only a marginal impact of the sanctions, which the department should be able to take care of.
She said her ministry has contacted manufacturers and basic service operators and they have told her that the sanctions would have little impact.
US companies may have problems but other companies will not suffer, she said. "Companies other than those from the US (mostly European) will not hurt the sector," she said in her meeting with Sinha which primarily pertained to the corporatisation of DoT.
Sinha said the meeting was part of an ongoing process and other meetings would follow. He described the meeting as an "internal" one.
Among those present were Finance Secretary Montek Singh Ahluwalia, Department of Telecommunications Secretary A V Gokak and members of the Telecommunications Commission.
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