Grameenphone has decided to pay the balance adjustable deposit of BDT 1000 crore to BTRC within May 31, 2020, following the order of the Hon'ble Appellate Division on Grameenphone's review petition on February 24, 2020, relating to the injunction.
In this regard, the company had previously deposited BDT 1000 crore to the BTRC on February 23, 2020 with this payment, a total of BDT 2000 crore will have been deposited to the regulator.
Grameenphone respects the legal system of Bangladesh, the Hon'ble Supreme Court's direction, and looks forward to the continued court protection to run regular business operations, improve customer experience, bring confidence back in the business environment and protect the value of its shareholders.
Grameenphone reiterates that it disputes the validity of the BTRC audit and the claim. Its ambition is to resolve the audit dispute, either through an amicable and transparent solution with the relevant authorities or before the Hon'ble Courts.
With this balance adjustable deposit, Grameenphone will have fully complied with the Hon'ble Court directions relating to the injunction. GP appreciates the recent collaboration with the regulator and looks forward to the continued cooperation to fully restore normal operations.
Head of External Communications
About Grameenphone Ltd.
Grameenphone, part of the Telenor Group, is a leading telecommunications service provider in Bangladesh with more than 76 million subscribers. Since its inception in 1997, Grameenphone has built the largest cellular network in the country, covering nearly 95 percent of the country's population. With its brand promise to enable customers to 'Go beyond', Grameenphone seeks to help customers get the full benefit of mobile data and voice services and provide Internet For All. Grameenphone is listed on the Dhaka Stock Exchange. www.grameenphone.com: www.facebook.com/grameenphone
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