And while the Social Security Board of Directors still has not taken a decision to support the acquisition, the government is moving ahead with adjustments to the regulatory landscape for telecoms providers.
Now, the existing Telecoms Act already says very clearly that market forces should guide rate setting in that sector - but the Prime Minister says that a new Statutory Instrument will basically enforce rates - no longer leaving it to market forces. It seems like just one more way to pave the path for a monopoly - but the PM said, it's about the consumers:
John Briceno,Prime Minister
"The SI, there was a Cabinet paper on Tuesday, while I can't go into great details, because it's going to be made public, what the PUC is saying now is that BTL, with them being more than 60% of telecoms and 50% of broadband, they are the dominant service provider. So irrespective of what happens, we have to have better regulations in the industry to ensure that consumers are not taken advantage of, they don't just raise prices arbitrarily and there has to be a process to be able to do that. It is important for our citizens to understand and we need to protect their interest and how you do that protection is through the PUC. They do that for energy, for water, and now they're going to do it for both broadband and telecommunications. "
Courtney Menzies:
"What do you make of the independent senators saying though that they would block the bill if it goes to the Senate?"
John Briceno,Prime Minister
"Which bill?"
Courtney Menzies:
"Any bill concerning this proposed acquisition. "
John Briceno,Prime Minister
"That has nothing to do with the acquisition. Whether the acquisition takes place or doesn't take place, it will proceed."
We note that experts tell us that the existing Telecoms act already empowers the PUC to make regulations to deal with rates in the case where there is one provider or a dominant provider in a market.
But, to change the entire Telecoms act to suit a monopoly market would likely require sending a raft of amendments to the national assembly.
