June 2, 2017 / 12:02 PM / 4 months ago

BRIEF-RCom seeks cut in tax rates for telecom sector

June 2 (Reuters) - India’s Reliance Communications executive Punit Garg says

* Ongoing stress in telecom industry will end up reducing 30,000-40,000 more jobs this year

* Exec says sector heavily burdened by tax, government should look at rationalisation

* Exec says reduced ebitda of sector insufficient to cover debt obligations and airwave payments

* Exec says industry seeking three year moratorium on government levies, airwave payments, taxes

* Exec says industry also seeking lowering of license and spectrum fees and mobile termination charges

* Exec says industry seeking long term loans to telecom sector under 5/25 scheme

* Exec says seeking easing of external commercial borrowings policy restrictions (Reporting by Sankalp Phartiyal and Devidutta Tripathy)

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