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TSTT on Wednesday informed the public that while the recent review of the telephone sector by the Regulated Industries Commission (RIC) has addressed the important issue of illegal operation of calling centres throughout TT, TSTT resented not being allowed to defend its position before the Commission presented their findings to the public. TSTT is of the view that this action by the RIC was tantamount to an attempt to "try the company (TSTT) in the public eye" and therefore "deprived TSTT of the opportunity to clarify the issues presented by the Commission in the manner provided for under the TT Telephone Act No 22 of 1990."

In a full page advertisement in a daily paper, TSTT claimed the RIC findings had once again "reaffirmed TSTT's licence under the Telephone Act to be the sole provider of telephone service in the country." However, "the recommendations of the RIC with respect to the pricing of TSTT's services are not consistent with the new Telecommunications Act or even with the RIC Act itself," the advertisement read. In addition, "TSTT views it as unfortunate that the RIC may have by its release on the provision and pricing of certain TSTT services, raised expectations of the public which TSTT will be unable to meet."

While TSTT chief executive officer Sam Martin can be quoted as stating "The RIC is free to question any aspect of TSTT's operations which it believes needs to be addressed, and to make recommendations for its improvement," it should not "create uncertainty for TSTT, nor create doubt in the minds of customers about TSTT's operations." Formally responding to the RIC's letters dated April 8, TSTT indicated its intention to ask the Commission to re-examine the relevance of its reference to a 15 percent return on the Rate Base, since they are questioning its applicability. At the same time, the company is not denying that it has made returns on its shareholders funds of between 14.8 percent to 16.3 percent over the 1999 - 2003 period, in addition to returns on total capital employed of between 13.8 percent to 14.6 percent over the same period.