TRAI's Khullar came up with a reasonable price: Sunil Jain

An internal panel of Department of Telecommunications, in its report submitted today, questioned the sharp reduction in reserve price of spectrum of up to 62 percent by telecom regulator Trai. Sunil Jain, Editor, Financial Express, says this industry has been starved of spectrum because of A Raja and had to pay excessive prices in 2010 because they had no other option. After 2010, the industry just got stuck in this high price and as a result of which nobody got spectrum, he adds.

Also Read: DoT panel questions spectrum price cut, other TRAI recos

Hence Rahul Khullar had to come up with this reasonable price, but the panel rejected it, says Jain. "In every auction so far, the base price and the final price that you get is multiples of that depending on how the economic conditions are," he says. If the Telecom Commission went along with the panel, it would be very surprising, he adds.

Below is the verbatim transcript of Sunil Jain's interview on CNBC-TV18

Q: We are back at square one now. Rahul Khullar some would say had done the bold thing which was to actually cut the reserve prices or recommend a cut in reserve prices. The DoT panel saying no can do, where do we go from here?

A: The DoT panel is clearly smoking something which is banned. You have had an industry which from 2008 has been nearly starved of spectrum thanks to Mr Raja. Because of that they paid these excessive prices in 2010 because they had no other option. So, after 2010 the industry just got stuck in this high price. As a result of it nobody got spectrum. Even the government auction had failed because of that. So, Rahul Khullar finally had the good sense to come up with a reasonable price and this panel goes and rejects it.

My view is that this panel will be rejected by the Telecom Commission when it meets on Thursday. The government cannot afford to have an industry which has been bleeding for the last four or five years. There is just too much riding on it. The government needs to get sentiment back and for some reason the base price seems to be the auction price according to the panel. In every auction that we have seen so far you have a base price and the final price that you get is multiples of that depending on how the economic conditions are. I would be very surprised if the Telecom Commission went along with the panel.

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