Latest update November 24th, 2024 1:00 AM
Latest News
- Windfall taxes do not violate petroleum contract – T&T Energy Expert
- All oil projects in Guyana performing above expectation in the world’s premier deepwater zone- Exxon CEO tells shareholders
- More than 100 Palestinians killed in Israeli attacks on Gaza in 48 hours
- GECOM to continue discussions on introducing biometrics before engaging stakeholders
- Corentyne fire that killed mother and four children maliciously set – GFS
Telecoms war…Financial reports not covered in secrecy-Digicel CEO
…offers to run GT&T
Telecommunications giant, Digicel Guyana has denied that their financial records/performance is covered in secrecy and that last week’s calls for disclosure by competitor, Guyana Telephone and Telegraph Company (GT&T) was for public gains.
That statement was made yesterday by Chief Executive Officer (CEO), Gregory Dean, at a press briefing at the company’s head office in Barrack Street, Kingston.
Digicel’s CEO, Gregory Dean
According to the CEO, there are sinister moves being made against Digicel Guyana which could harm the long term development of the company. The main issue is the liberalization and the overall future of the telecommunication sector. He said that he has always maintained that this is more important than any GT&T/Digicel battle. He believes there are blatant lies being told about Digicel.
GT&T’s CEO, Yog Mahadeo, last week called on Digicel to make public their financials to prove that the company which has offices in several Caribbean territories, is losing money.
GT&T insisted that this was one of the main reasons put forward by Digicel to liberalise the telecommunication sector. Digicel, Mahadeo said, according to estimations by his company, is making more profits on its mobile business in Guyana than GT&T.
However, Dean said yesterday that the call by Mahadeo was merely a stunt to gain publicity which is aimed at influencing the future of the telecommunication legislation. Government had tabled legislations to open the sector to other investors but withdrew shortly before the Ninth Parliament ended last year.
GT&T, according to Dean, was painted as a victim to either delay liberalization, or to achieve some type of protection in what should be an open liberalized sector.
Mahadeo last week stated that the company could eventually lay off workers in as little as three years if it continues to be hindered by unfair competition. Mahadeo said that Digicel was being given privileged treatment. The CEO had urged his rival to be more transparent and release its financial reports to the public.
Dean said that he was appalled by Mahadeo’s sentiment and brushed it off as fibs being told on his company. He further told the media that, like GT&T, his company has to give reports of its performance to the relevant authorities such as the Public Utilities Commission and the Registrar of Companies.
Dean further noted that his company has always done so. GT&T, on the other hand, is reporting to government who is also a shareholder. It was explained that since government is a shareholder in GT&T, they are compelled to report, but Digicel has to report to its own shareholders.
GT&T’s CEO, Yog Mahadeo
Dean said the companies have been in talks for well over five years with National Frequency and Monitoring Unit (NFMU) on payment rates among other issues. To date, he said that his company Digicel has some $300-400M in that account.
However, Dean would not disclose his company’s financial performance.
Dean further called on the present administration to come clear on the telecommunication legislation since he feels that GT&T is using to have the very pertinent liberalisation legislation postponed.
Dean also said that if what the GT&T’s CEO is claiming is true and the company is doing badly, Digicel would welcome the opportunity to run that competitor’s network as that company is enjoying major advantages.
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
Jagdeo’s idea of transparency
…Peeping Tom kaieteur News- Transparency, as conceived by Vice President Bharrat Jagdeo, seems to be a peculiar exercise... more
Rising Gun Crimes in the Caribbean: Urgent Action required by all
By Sir Ronald Sanders Kaieteur News – There is an alarming surge in gun-related violence, particularly among younger... more
Weekend Cartoon
