THE House of Representatives approved on final reading a bill extending the franchise of Transpacific Broadband Group International, Inc. for another 25 years.
During a plenary session on Wednesday, the lawmakers approved House Bill 8551, which grants the renewal of Transpacific’s franchise.
If enacted into law, Transpacific will be allowed “to construct, install, establish, maintain and operate for commercial purposes and in the public interest, communications systems for the reception and transmissions of messages, such as but not limited to voice, audio, data, facsimile, video, and such other radio, write, satellite, and other means” for another 25 years.
Transpacific must secure a Certificate of Public Convenience and other required permits and licenses from the National Telecommunications Commission in relation to the operation of its telecommunication systems and facilities.
In terms of establishing or maintaining poles and other conductors, Transpacific will need to secure approval and permit from the Department of Public Works and Highways or the local government units.
The company should also offer its common stocks to at least 30% of Filipino citizens in any securities exchange or through any methods allowed by law.
Transpacific is a publicly listed company established in 1995 and is registered under the Clark Special Economic Zone. — Gillian M. Cortez