'We pick up regulations on the way as they come'

What are the problems that you foresee due to convergence?

One of the greatest challenge that we see is the entire field
of convergence where the traditional regulatory policies based on telecom,
broadcasting, and media, have to be reviewed because it is no longer clear that
these regulatory policies which were enacted in the past, will work. The
challenge for us is how do we come up with new set of rules and regulations to
fill up these gaps.

Why did you leave broadcast during the merger process?

The company decided to merge NCB and TCS to form IDA. We were
also considering on broadcasting specifications but during the evaluation it was
felt that probably what Singapore Broadcasting Authority (SBA) is doing has not
got as much synergy as between NCB and TAS. But as the industry grows and
technology develops, we may reconsider the role.

Initially before the formation of IDA, we thought of coming
up with a new legislation to replace the Telecommunications Act. But it was
realized that there are many issues that need to be addressed and so our policy
makers decided that instead of rushing for the convergence bill, we should first
enhance our existing Telecommunications Act.

How do you foresee the duties of IDA in the future?

What we have laid down is a set of operating principles. We
run in an intensely competitive telecom environment. We pick up regulations on
the way as they come. So when we moved from a monopoly environment, we
implemented a code of practice for competition. We still need a lot of
fine-tuning on the way.

How is the regulator promoting FDI in the country?

We perceive FDI in a holistic way. We have developed a
Singapore Inc approach where the different government agencies are responsible
for different areas. We look towards updating those areas that come under our
purview and how they can contribute towards a conducive environment, which would
attract investors to come in Singapore. Investors have a finite amount of
resource, so when they look at where to invest, obviously they have to see
whether the money will be safe and what will be the returns. Thus, there can be
markets which can be attractive in terms of returns, but if they have a feeling
that the money is not safe or the banking system may not be sound or the
government policy keeps changing or there is no transparency, they will be
reluctant to invest.

Pravin Prashant in Singapore