USF revenues plunge

Violet Bradroe, Financial Controller at the USF, responding to PAAC Chairman Dr. Wykeham McNeill
It was revealed on Wednesday that the Universal Service Fund (USF) has suffered a major plunge in revenue.
This has resulted from a decline in voice calls.
The USF earns revenue from a levy imposed on international calls terminating on local networks.
Three US cents per minute is applied on calls terminating on mobile lines and two cents per minute for calls on fixed lines.
Violet Bradroe, Financial Controller at the USF, when asked to provide an update on the revenue at Wednesday's PAAC meeting, said in 2016, the agency collected $1.3 billion. 
In 2017, she said the figure dropped to about $900 million, but at the current rate, it is projected that the Fund could collect only about $750 million this year. 

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