THE House of Representatives approved a bill that will grant another 25 years to Smart Broadband Inc’s franchise.
On Thursday’s plenary, lawmakers approved on final reading House Bill 8970 or the proposed law that will renew the franchise of Smart, formerly known as Meridian Telekoms Inc.
Smart Broadband is under Smart Communications, Inc., the wireless subsidiary of PLDT Inc.
If legislated, the proposed franchise renewal will allow the grantee to “construct, install, maintain, lease and operate” wired and wireless telecommunications within the Philippines for commercial purposes.
It also mandates the company to provide a mobile number portability mechanism to ensure connectability of its telecommunication services with other telecommunication service providers.
The grantee should also offer its outstanding stocks to at least 30% of Filipino citizens in any securities exchange or through any methods allowed by law.
CIGNAL TV
Meanwhile, the renewal of the congressional franchise of Cignal TV Inc. was approved on final reading by lawmakers during the same plenary session.
If enacted, House Bill 8977 will renew for another 25 years Cignal’s franchise to construct, install, and maintain for commercial purposes its radio and television broadcasting stations nationwide.
The bill will also require the grantee to provide enough public service time of 10% at maximum to inform on important issues of public interest. It will also give the President of the Philippines the authority to operate or suspend the franchise in the interest of public safety and welfare.
Cignal TV is a subsidiary of MediaQuest Holdings, the media arm of the PLDT Group. BusinessWorld is likewise a subsidiary of MediaQuest Holdings through the Star Group of Companies. — Gillian M. Cortez
