Sri Lanka’s telecom watchdog on Friday gave a 15 day ultimatum to seven telco firms for delays in presenting their financial statements. Firms failing to comply with the order by the deadline begining February 17, will be slapped with fines or an embargo on regulatory approval for tariff, equipment imports and frequency allocation.
The Telecommunication Regulatory Commission issued notices on data services giant Lanka Internet, Lanka Global Online, Sunray Electronics, Dynaweb Services, Pan Lanka Networking, Equipment Traders and ITMIN Limited.
The regulator said the seven firms were required to submit their audited accounts annually as per contition 30 under Section 11 of the Sri Lanka Telecommunications Act No. 25 of 1991 and as ammended by Amendment Act No. 27 of 1996.