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The Appeal Court on Monday quashed Sri Lanka Telecom’s 2003 tariff increase, which raised monthly rentals to Rs. 500. The Appeal Court on Monday quashed Sri Lanka Telecom’s 2003 tariff increase, which raised monthly rentals to Rs. 500. The ruling requires SLT to revert back to pre-2003 tariffs and refund the difference in its customers bills for the entire period.

The telecom giant is however expected to appeal the decision in the Supreme Court shortly.

The 2003 tariff increase was the fifth and final increase allowed under the shareholders agreement signed between Japan’s NTT and the Sri Lankan government when a 39% stake was divested to the Japanese telco.

The Consumer Association of Lanka, filed the case asking the Courts to reverse the telecom regulator approved tariff increase that was put into effect from September 1, 2003.

The Telecommunications Regulatory Commission was also hauled up for approving the tariff increase and was asked to provide evidence that it consulted with all connected parties before giving the clear to raise tariffs.

The consumer lobby reportedly argued that the