29.Jun .2021 13:30

Gov’t To Write Off Debt of 1.5 MLN To 24 Radio Companies

Gov’t To Write Off Debt of 1.5 MLN To 24 Radio Companies
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The government will write off the debt of 1.5 million to 24 radio companies, which they have accumulated towards the LLC Georgian TV and Radio Center. The statement was made by the Minister of Economy and Sustainable Development Natia Turnava.

"There is such a state-owned company LLC Georgian TV-Radio Center, which owns masts throughout Georgia. Through these masts we provide frequencies to different radio companies. 24 radio stations approached us and the Regulatory Commission to forgive them accumulated debt due to the pandemic.

We shared this request, including their argument. Indeed, the main source of income for radio companies is advertising, as you know, economic activity was stunted in 2020, and of course, their revenues have either stopped or decreased. Therefore, the government has shared their request and we will write off debt of 1.5 million GEL to 24 radio companies and the government will also forgive the service fee until the end of the year. We want to wish them success," the economy minister said.