Henry Adderley Alleged financial discrepancies amounting to several million dollars have been uncovered in a major telecommunications firm's costing information. Cable & Wireless is required by law to submit costing information to the Telecommunications Commission when it wishes to change its rates so that it can be monitored for predatory pricing following the introduction of its rival TeleBermuda International to the long-distance market. And in a letter from Commission chairman Robert Stewart to C&W general manager Colin Little, which was made public yesterday, it emerged that information sent earlier this year seemed to indicate a massive discrepancy. "On January 7, 1998, you did provide costing information to the Commission,'' said Mr.

Stewart. "In response, we wrote to you on January 23, 1998, seeking clarification as there seemed to be substantial discrepancies amounting to several million dollars between the financial information supplied to the Commission on earlier occasions. "To date, we have heard nothing on this matter from Cable and Wireless.'' Cable and Wireless spokesman John Instone could not be reached yesterday for comment. The letter also points to C&W's failure to follow legislative guidelines as the reason for the reduction of the local firm's competitiveness in the telecommunications arena. C&W was labelled as the dominant carrier in the market under the Telecommunications Act, requiring it to submit any proposals to reduce rates to the Commission.

It has made eight applications to reduce its rates since TBI began operations last May but they have been denied. The Act requires all rates to be just and reasonable and the applicant has to provide the information which confirms that a rate application meets this test. When C&W did not include this information with its application, Mr. Stewart said the Commission responded to remind the firm of its obligation under the law and asked for the information to be submitted. "During the last six months, your firm has made eight rate applications to the Commission. In every case, you have failed to provide any supporting information much less information that demonstrates that your proposal is just and reasonable as required by the Act.'' Meanwhile C&W has lost up to 25 percent of its share in the long-distance sector to TBI and the firm has laid the blame at the feet of the Commission which it accused of employing delaying tactics. C&W have kicked off a public advertising campaign against Government stating that Government's telecommunications policy keeps residents from getting cheaper rates because it cannot lower its prices. The company is also claiming a reported $100 million in monetary damages for loss of its monopoly position. GOVERNMENT GVT