Filipino telecoms giants PLDT Inc. and Globe Telecom have inked an agreement to reduce their interconnection rates for fixed and mobile voice telephony calls by 38% to PHP2.50 (USD0.05) per minute from the previous fee of PHP4.00. The move, which follows strong pressure from the regulator the National Telecommunications Commission (NTC) to cut retail prices, will be implemented by 1 January 2017, and will see Globe and PLDT pledging to reduce costs to end users as well as ensuring that they provide adequate circuits/routes to allow the efficient transmission of calls. Globe chief technology and information officer Gil Genio said: ‘We are confident that a reduction in the cost of interconnection for voice calls will eventually redound to a more robust economy, providing our customers with an affordable and easily accessible way of communication.’