While about Rs 8,000 crore would be supported by a mix of internal accruals and Global Depository Receipts proceeds raised in 97-98, the company would approach the market for raising Rs 2,000 crore to complete its investment target. He did not give details about the debt instrument that MTNL would adopt.(PTI) for raising funds. "We have applied for basic licenses in 10 states including Uttar Pradesh (West), Haryana, Punjab, Rajasthan and Maharashtra," Mr Sharma said. Other circles where the company has applied for licenses include Karnataka, Gujarat and Kerala.

"This will be supported by our plans for starting cellular services in the same circles to complement two services," he added. The corporation had recently said it would work out additional tariff packages by next month to give more choices to its subscribers.

MTNL is also planning to offer financing options for acquiring handsets at affordable installments to widen its subscriber base in the two metros of Delhi and Mumbai. The corporation is currently negotiating with various financial and banking institutions to facilitate financing scheme.

For the roaming facilities, MTNL is hoping to get into an agreement with other service providers both domestic and global by first week of March for which the corporation has hired a Bangalore-based clearing house `MACH' for negotiations with service providers.

As part of its cellular strategy, the corporation is also in the process of working out the denominations of the cards as well as airtime charges and the cards would be introduced in the market by March-end.

MTNL would also cover the National Capital Region (NCR) of Noida, Ghaziabad, Gurgaon and Faridabad by March 31.

(PTI)