Laqtel’s fate rests with Minister

“As far as we are concerned, the matter is closed, we are not aware that Laqtel has asked for reconsideration, and we would not write to the Minister again,” Seecharan said.

Last Friday, Laqtel had their licences, which was granted on December 31, 2005, terminated by TATT for repeatedly failing to pay the required legal fees and fines owed to the Authority.

In a press statement, TATT said the Minister exercised his powers by terminating, with immediate effect, both Laqtels’ concessions and licences for the operation of public domestic mobile services and a telecommunications network, as well as its spectrum licence for the use of blocks of spectrum in the 800 MHz and 1900 MHz bands.

In an interview, Seecharan said that the issue was fully in Swaratsingh’s hands now. “He already terminated the concession, and I am not aware that he will even reconsider it,” he said, adding, “He gave them an opportunity, already.”

Last Friday, March 14, the police, accompanied by the authority’s employees, agents and attorney, Sean Cazabon, marched into Laqtel’s office on Sackville Street, Port-of-Spain, and seized electronic equipment that was almost equal in value to the amount of fines owed by the company, in the presence of the Laqtel’s chief operating officer Richard Nixon and Chief financial officer Vijay Seegobin.

In a press statement, Seecharan reminded the public that Laqtel had been required to launch their public domestic mobile telecommunications service by increasing network coverage from 50% of the geographic area of TT by June 30, 2006 to 70% by December 31, 2006, eventually attaining 90% coverage by the December 30, 2009.

Seecharan said that Swaratsingh wrote Laqtel on 28 January, advising them of TATT’s recommendations. On February 7, Laqtel responded, saying that they had made arrangements with a new investor to secure financing that would enable the company to pay all fines and fulfill its obligations. According to Seecharan, this information was forwarded to Swaratsingh who agreed to restrain from legal action, giving the company two weeks to fulfill its requirements but warning that failure would definitely result in termination of the concession.

Seecharan said that Laqtel accepted the conditions outlined in Swaratsinghs’ letter which required that the company pay all outstanding fines, including concessions, licences and the performance bond. It also stated that Laqtel fulfill its network coverage and service requirements, and explained that the undisclosed “new investor” would need to be first assessed as a stakeholder for a telecommunications operator in TT.

Seecharan said that Laqtel was supposed to provide the required information for this proposed investor as well as complete any transactions with the new investor, within two months of approval by TATT. Seecharan said that although Laqtel accepted these terms and conditions, agreeing that payments would be made by March 10 but they failed to do so.

Responding to TATT’s action, Laqtel, in a statement said, that the developments were “quite unfortunate.” Referring to the payment of outstanding fines, Laqtel said that they were hoping that Swaratsingh reconsiders his position since it has since received a copy of the wire transfer document from its investor to the tune of US$1.6M or approximately TT $9.7M and sent this information to TATT’s corporate secretary.

Laqtel admitted that they had at first been faced with serious challenges in finding a suitable investor to partner and concerned about protecting the interests of small investors whose investment in the company were as low as TT $1,000. Laqtel said it was supposed to meet with the chairman and CEO of its investor partner on Monday. Calls to Laqtel’s offices on Sackville Street as well as to its founder and director Dr Joseph Laquis went unanswered.