Finance Minister Omar Davies, in his opening presentation on the budget in Parliament yesterday, said the proceeds of the sale of the cell licence would contribute to the $12.8-billion in non-tax revenue during the current fiscal year - eight per cent over the previous fiscal year.

Last night, the technology minister, Phillip Paulwell, told the Observer that he could not reveal details of the sale at this point as the parties were "still in negotiations", but noted that there was a clear indication that government would earn more than the amount AT&T paid for it in 2004.

"We got $360 million for the licence we sold to AT&T," Paulwell said.  "At this point, we are looking to get more than that amount."

In January, Colin Campbell, then chairman of Spectrum Management Authority (SMA), told the Observer that four telecoms providers - three foreign and one local - had expressed interest in the cellular licence that went to auction in November.

The auction was to have taken place between December 5, 2005 and January 5, 2006.  The preferred bidder would have been announced on January 15, 2006, and issued the licence by February 1, 2006.

But Campbell said the firms were unable to complete their "packages" due in part to interruption from the Yuletide season, and were given an extension to complete their bids.  Since then, the government and the interested parties entered into a set of negotiations expected to yield an agreement on the sale of the licence.

Paulwell said yesterday that the terms of that agreement should be arrived at in May.

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