SA'S ICASA DEMANDS TELKOM PRICING MANUAL - "NO OPERATOR ..BEYOND REGULATION"
Telkom and the Independent Communications Authority of SA (ICASA) are in disagreement over whether Telkom has missed the deadline to submit its pricing manual. ICASA chairman Mandla Langa said this week Telkom had missed the 30 June deadline for submitting its Chart of Accounts and Cost Allocation Manual (COA/CAM).
"Telkom was supposed to have submitted its Chart of Accounts Cost Allocation Manual to the authority by close of business today," he said at a stakeholders' meeting on Wednesday night. "This was according to an agreement between Telkom and the authority. Telkom has broken this agreement and the authority will be deliberating as soon as possible on the course of action to take.
"We view this behaviour as grist to the mill of those observers and commentators who believe that Telkom cannot be regulated. However, we strongly believe that no operator is beyond regulation." CEO Sizwe Nxasana says that as far as Telkom is concerned, the official due date for submitting the information is 30 September.
Telkom said in its recent annual report filed with the US's Securities Exchange Commission (SEC) that it did not believe it would be able to meet the 30 June deadline and that ICASA had granted it an extension. Although ICASA has acknowledged receiving a letter from Telkom, it maintains that no extension has been granted.
"As a listed entity Telkom needs to be cautious about the manner in which non-public financial information is released," Telkom says in a statement issued yesterday afternoon. "Therefore, Telkom will comply with the disclosure requirements of the US Securities Exchange Commission and the JSE Securities Exchange SA and provide audited accounts to the regulator pursuant to its obligations under the law."
Nxasana says Telkom supports, respects and has confidence in ICASA as an independent regulator and fully complies with laws and regulations. He says Telkom is in talks with ICASA on how best to comply with requirements and that Telkom has developed a COA/CAM procedure manual that ICASA has just approved.