← News Fri Apr 4, 2014 - 10:11 am - 0 comments

Telecoms help Gov’t meet IMF target

Spectrum

THE Government collected an unexpected $7 billion in additional revenue from Jamaica’s two mobile operators, just before its first fiscal year under the latest IMF programme closed out.

In getting LIME and Digicel to renew their telecommunications licence a full year ahead of schedule and by selling a 700 megahertz (MHz) spectrum block to the latter at a much lower price than it previously advertised, the Government significantly increased its chance or meeting critical fiscal balance targets for the end of March.

Moreover, the Government has an additional $5.6 billion to collect over the next 10 years, starting with a $560- million payment this fiscal year, which began on April 1.

Published in the Jamaica Observer
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