• Monday, Sep 28, 2020
  • Last Update : 01:02 am

At long last, GP pays BTRC Tk1,000cr in partial dues

  • Published at 07:26 pm February 23rd, 2020
mobile
Logo of Grameenphone logo, left, and logo of BTRC, right

GP share jumps 7.58%

After a prolonged tussle with the regulator, the country’s leading telecom operator Grameenphone on Sunday deposited Tk1,000 crore to Bangladesh Telecommunication Regulatory Commission as partial due of an audit claim following a court order.

BTRC Senior Assistant Director Zakir Hossain Khan told Dhaka Tribune that the transaction was completed at 3:30pm on Sunday where Hossain Sadat, director and head of regulatory affairs at GP, handed over the amount as a pay order to the commission Chairman Md Jahirul Haque.

“As per the court order, GP will appear before the court on Monday with the proof of their deposit. Whatever the court orders, we will go by it, be it about the rest of the dues or about withdrawal of their suspension on NOC,” the BTRC chairman told journalists.

The Appellate Division of the Supreme Court, led by Chief Justice Syed Mahmud Hossain, issued an order on February 20 that GP must pay Tk1,000 crore to BTRC by Monday of the total claim of Tk12,445 crore by telecom regulator after hearing a review petition filed by GP.

A day before the hearing, GP had offered BTRC Tk100 crore in token of their willingness to continue dialogue with the government about resolving the dispute about the audit claim.

After running an audit on GP, the BTRC in 2016 had claimed Tk12,579.95 crore from the mobile phone operator in taxes and late fees accumulated over years.

The dispute about the audit intensified last year, with the company facing regulatory punishment, including suspension of service and expansion, for not clearing the audit claim.

On November 24, 2019, the Appellate Division ordered GP to pay Tk2,000 crore of the total dues within three months. The deadline expires on Monday.

The telecom regulator claimed the dues in 27 sectors from GP, but failed to recover the money. Later, BTRC sent a notice to GP threatening to revoke its licence on April 2 last year.

But GP moved the court, seeking a temporary injunction on the notice which was turned down on August 28 that year. It later filed an appeal with the High Court Division.

On October 17, the High Court imposed a two-month injunction on realization of dues from GP. BTRC later moved the Appellate Division against the order.  

Meanwhile, the news that Grameenphone paid a part of the audit claim was received positively at stock market, which pushed up GP’s share price by 7.58%, or Tk22.4 at the Dhaka Stock Exchange (DSE) on the day. It closed at Tk319.60 per share.

58
54
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail