New Delhi, Oct. 15: The government will not delay the auction of third generation (3G) spectrum because of the global financial meltdown.

“We are not delaying the 3G auction process as of now,” telecom minister A. Raja said on the sidelines of a conference here today.

3G spectrum is scheduled to be auctioned by December-end.

Finance minister P. Chidambaram is also likely to meet officials of the department of telecom (DoT) to discuss the proposed schedule of the auction process, which can fetch up to Rs 25,000 crore to the exchequer.

Raja said partial payment of the bid prices would also not be accepted.

“There is no such move right now. The current credit crunch will be taken into account but that does not mean we will dilute the law,” he said.

Earlier, reports had suggested that the government was considering the introduction of a staggered payment option for successful bidders. to ensure that the global economic slump did not affect the auctions.