Telecom Fiji Limited says it is pleased to have reached a new reduced price arrangement for domestic and international calls, and internet services.
Fiji's Commerce Commission has made an unprecedented intervention to force down rates in the telecommunications sector where the monopoly companies have been charging some of the highest rates in the world.
In a media release, Telecom says it welcomes the reduction and regard it as just the first step in bringing competitive prices to Fiji.
The company says the consumers of Fiji deserve this determination, which it says should stimulate economic activity in the country.
Telecom says although it may lose at least 6 million US dollars in the process, the restructuring currently being undertaken in the company should help deliver savings to bridge some of these losses.
The new charges will come into effect from June the 1st.