Phillip Paulwell, Jamaica's Minister of Science, Technology, Energy and Mining, has refused to divulge the reserve price for the two mobile telecoms licences to be auctioned later this year. He told the House of Representatives on tuesday that the figure will be kept a secret to facilitate competitive bidding.
“In relation to reserve price, we have two reserve prices for both spectrums. Obviously it can’t be disclosed because we want the market to compete to give us the best value for the spectrums and do anticipate to receive significant offers for them."
He told the House that the Government hopes to issue the licenses by July 15.