MANILA, Dec. 1 -- The Department of Information and Communications Technology (DICT) has released the implementing rules and regulations (IRR) of the Konektadong Pinoy (KP) Act, a move expected to lower internet prices, attract new foreign players, and expand connectivity to underserved and remote communities nationwide.

At a media briefing on Monday, DICT Secretary Henry Aguda said the agency aims for at least a 40-percent drop in internet costs by 2026.

"In ASEAN (Association of Southeast Asian Nations), we are number 6 in terms of affordability. For us to move up to number 1 or 2, the reduction should be at least 40 percent, that's the target," Aguda said in Filipino.

"Now, it shouldn't just be a price reduction. Because in terms of...