Globe, PLDT agree to slash fixed and mobile interconnect rates

Filipino telecoms giants PLDT Inc. and Globe Telecom have inked an agreement to reduce their interconnection rates for fixed and mobile voice telephony calls by 38% to PHP2.50 (USD0.05) per minute from the previous fee of PHP4.00. The move, which follows strong pressure from the regulator the National Telecommunications Commission (NTC) to cut retail prices, will be implemented by 1 January 2017, and will see Globe and PLDT pledging to reduce costs to end users as well as ensuring that they provide adequate circuits/routes to allow the efficient transmission of calls. Globe chief technology and information officer Gil Genio said: ‘We are confident that a reduction in the cost of interconnection for voice calls will eventually redound to a more robust economy, providing our customers with an affordable and easily accessible way of communication.’