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NT to get strategic partner soon

Added At:  2012-07-29 11:24 PM  

Last Updated At: 2012-07-30 11:24 PM

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HIMALAYAN NEWS SERVICE

KATHMANDU: The Finance Ministry today formed a committee to initiate the process of finding a strategic partner for Nepal Telecom (NT), according to joint secretary of the Finance Ministry Khum Raj Punjali.

The secretary level meeting of the ministry today decided to form a committee that will prepare the necessary steps that need to be taken for divesting the state owned operator’s stake to other firms, he said.

The ministry had, in June, proposed a committee led by Suresh Pradhan of the Office of the Financial Comptroller General, but Pradhan refused to lead the committee. The new committee, led by joint secretary at the Finance Ministry Biakuntha Aryal, will submit its report by mid-September, added Punjali.

The Finance Ministry

has also broadened the mandate of the committee, according to him.

“This committee will not only prepare the bidding document and contract papers, but also finalise the process and method of bringing in a strategic partner.” The government has decided to divest at least 26 per cent shares of Nepal Telecom to a foreign partner. But, no progress has been made on this front.

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