PLDT taps SGV as auditor for CURE’s 3G license

MANILA, Philippines - Dominant carrier Philippine Long Distance Telephone Co. (PLDT) has tapped accounting giant SGV & Co. as its representative in the three-man team that would determine the value of the third generation (3G) license of Connectivity Unlimited Resources Enterprise (CURE) that it surrendered to the National Telecommunications Commission (NTC).

NTC commissioner Gamaliel Cordoba said in a text message to reporters over the weekend that SGV & Co. has been nominated by the PLDT Group to the three-man team of independent auditors that would determine the cost recovery amount (CRA) of the 3G license of CURE.

Cordoba pointed out that the PLDT Group agreed to apply Rule 32 of the Rules of Court in connection with the inclusion of associated funding cost as one of the components of the CRA to abbreviate the proceedings.

“The PLDT Group has officially agreed to adapt the mechanism provided in Rule 32 of the Rules of Court for a more accurate and correct determination of a component of the CRA for Cure,” he stressed.

According to him, the rule allows the establishment of a commission of examiners or auditors.

The NTC chief said the regulator is awaiting the advice of the Government Procurement Policy Board (GPPB) on the criteria that it would use to choose its nominee in the commission.

Cordoba said the NTC would use the criteria and choose its nominee early this month.

In January, the regulator decided to consult independent auditors to determine the value of the 3G license that continued to delay the auction amid the completion of the Terms of Reference (TOR).

Earlier, the Commission on Audit (COA) — the government’s audit arm - begged off as an independent auditor to determine the value of the 3G license of CURE to stay neutral if one of the members of the commission questions the decision.

The PLDT Group surrendered the 3G frequency of CURE being used by its wireless arm Smart Communications Inc. to NTC in the middle of last year.