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Senator asks NTC to look into DITO's financial capacity 

Senator Risa Hontiveros asked the National Telecommunications Commission to look into the financial capacity of DITO Telecommunity Corp. to operate as the country’s third major telecom player amid reports of its huge debt.

DITO Telecom said it is set to start commercial operations in the Visayas on March 8.

Hontiveros said  the National Telecommunications Commission should look into DITO’s financial capacity to back up the services it will provide to the public.

“The National Telecommunications Commission should also look into the financial capacity of DITO to provide the services it will be offering to the public,” Hontiveros said in a statement.

She said all doubts about DITO’s financial standing should be resolved before it is allowed to operate.

“After all, this is standard procedure on the part of the NTC with respect to the issuance of any provisional authority or certificate of authority to operate as a telecommunications entity," she said.

Hontiveros said aside from the technical audit, the NTC should have also ordered a financial audit on DITO.

Earlier reports alleged that DITO and its parent company Udenna Corp.

have P20-billion equity against P150-billion debt.

Hontiveros said a Chinese identity could be truly behind DITO.

"Our compatriots who speak on DITO’s behalf before the media are really just a Filipino mask over a Chinese identity," she said.

"Additionally, the 60 percent of the company nominally owned by Filipinos is just a thin shell covering the bulk of the Chinese capital powering the project. And that is what gives the Communist Party of China, through its state-run enterprise ChinaTel, the power and leverage to call the shots in Dito's day-to-day operations,” she said.

 

Topics: Risa Hontiveros , DITO Telecom , financial capacity , commercial operations , March 8
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