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Gov’t sets P24-b bond on Mislatel

A P24-billion performance bond is what Mislatel will give up in favor of the Philippine government if it fails to  make good on its commitments as the third telecommunications player in the country, according to Eliseo Rio, officer in charge of the Department of Information and Communications Technology.

“For the first time in our history, we required a new telco player to come up with time-bound commitments and putting their money where their mouths are,” Rio said.

The  roadblocks  have been cleared for the confirmation of the Mislatel consortium led by Davao tycoon Dennis Uy and China Telecom as the third player with the  resolution of  petitions against Mislatel’s selection.

“The National Telecommunications Commission  En Banc may now issue the confirmation order in favor of the selected new major telco player, which is Mislatel, should it qualify,” Rio said in a Facebook post.

The Mislatel  consortium was chosen as the “provisional” third telco player after submitting complete bid documents last Nov. 7.

Mislatel, however, faced questions on its eligibility and franchise validity from disqualified bidder Sear Telecom and its partner TierOne, a group  supported by former Ilocos Sur Gov. Luis “Chavit” Singson.

Mislatel had pledged to provide Internet connection service at speeds close to that in Singapore.

President Rodrigo Duterte had pushed for the entry of a third telco player to challenge PLDT and Globe, and improve communication and Internet services in the country.

Topics: Mislatel bond , Department of Information and Communications Technology , Dennis Uy , China Telecom , National Telecommunications Commission
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