Delay in bringing strategic partner hurts Nepal Telecom
KATHMANDU:
Political instability and government apathy in taking timely decision have been hurting the Nepal Telecom’s plan to bring strategic partner.
Ministry of Information and Communication has been frequently requesting the Finance Ministry to take the decision of bringing strategic partner to the Nepal Telecom but there is no response, secretary for the Ministry of Information and Communication Shreedhar Gautam said.
“Introducing strategic partner is the need of hour to make Nepal Telecom more competitive among the telecom service providers, he said, adding that Nepal Telecom can attract strong and experienced strategic partner, if it seeks strategic partner soon.
“It is better to take timely decision to bring strategic partner before it will be too late,” joint secretary at the Public Enterprises Coordination Division of Finance Ministry Ram Sharan Pudasaini said, adding that the stakeholders should be serious over the issue.
Nepal Telecom has been loosing its competitiveness gradually and sooner it brings a strategic partner, better it is for the company that has public’s share currently.
Public Enterprises Coordination Division at the Finance Ministry is currently studying the feasibility on strategic partner. “It is committed to sort out the issue earlier,” he said, adding that a consensus in the political front is, however, a must for the decision.
The government had in 2010 floated the idea of bringing a strategic partner to Nepal Telecom at 30 per cent stake. The Privatisation Committee of the Finance Ministry had started to get political consensus to make the process smooth, transparent and non-controversial.
A separate subcommittee led by lawmaker Hari Rokka was also formed to ease the divesting process by garnering support from political parties.
Similarly, Economic and Labour Relation Committee under Legislature Parliament is also holding discussion on the issue.
“Finance Ministry is committed to reenergise the issue since it is crucial to save Nepal Telecom,” Pudasaini added.
Source: THT
Political instability and government apathy in taking timely decision have been hurting the Nepal Telecom’s plan to bring strategic partner.
Ministry of Information and Communication has been frequently requesting the Finance Ministry to take the decision of bringing strategic partner to the Nepal Telecom but there is no response, secretary for the Ministry of Information and Communication Shreedhar Gautam said.
“Introducing strategic partner is the need of hour to make Nepal Telecom more competitive among the telecom service providers, he said, adding that Nepal Telecom can attract strong and experienced strategic partner, if it seeks strategic partner soon.
“It is better to take timely decision to bring strategic partner before it will be too late,” joint secretary at the Public Enterprises Coordination Division of Finance Ministry Ram Sharan Pudasaini said, adding that the stakeholders should be serious over the issue.
Nepal Telecom has been loosing its competitiveness gradually and sooner it brings a strategic partner, better it is for the company that has public’s share currently.
Public Enterprises Coordination Division at the Finance Ministry is currently studying the feasibility on strategic partner. “It is committed to sort out the issue earlier,” he said, adding that a consensus in the political front is, however, a must for the decision.
The government had in 2010 floated the idea of bringing a strategic partner to Nepal Telecom at 30 per cent stake. The Privatisation Committee of the Finance Ministry had started to get political consensus to make the process smooth, transparent and non-controversial.
A separate subcommittee led by lawmaker Hari Rokka was also formed to ease the divesting process by garnering support from political parties.
Similarly, Economic and Labour Relation Committee under Legislature Parliament is also holding discussion on the issue.
“Finance Ministry is committed to reenergise the issue since it is crucial to save Nepal Telecom,” Pudasaini added.
Source: THT
