Ncell Axiata has rebuked the allegation that has been circulating recently in the media regarding telecom bill ‘manipulation’. Releasing a statement, the private telco said that the rumors which it dismisses as “baseless and false” strongly drew its attention.
The company said that such news referring to unproven sources is just an attempt to hurt the company’s name.
In its statement, the company said that it strongly condemns the misguiding news that dragged its name into the Telecommunication Bill draft. It condemned the rumor stating that the draft that hasn’t even entered the discussion has been weaved into a story drawing a private operator’s name into it in the public. The company said that it believes the accusation was made to feed the need of some interest groups. But it didn’t reveal any individual or institutions it felt were conspiring.
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What is it about?
Recently, news outlets alleged that Ncell colluded with some in the government in the manipulation of the telecom bill draft. That is to help extend its operating license beyond 2029. The accusations held that it seeks to avoid limiting foreign investment down to 50 percent by 2029. It is a requirement as per the telecom act after a telco’s license turns 25 years.
As per the prevailing Telecommunication Act, 1997, following the expiry of the license period, a telco comes under the ownership of the Government of Nepal “GoN” if it doesn’t lower its foreign ownership to below 50 percent. Various news outlets have alleged that Ncell might have played a role in the manipulation of the telecom bill to curry favor to prolong its license. The private telco obtained its license on September 1, 2004, which will expire in 2029.
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Ncell is a Nepali company
In the statement, Ncell stated that Ncell remains a Nepali company as permitted by the law of Nepal. It said, “Ncell is an established Nepali company and has always remained accountable to all the regulators, and regulations”. Likewise, it requested the public not to pay any credence to the false, baseless, and unbalanced news.
Ncell is a part of one of Asia’s leading telecommunication groups, Axiata Group Berhad. Both Axiata and Ncell have played an important role in Nepal’s socio-economic development. “We are firmly committed to contributing to increase the digital connectivity of the country and improve the living standard of the people,” the telco said in its statement.
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Ncell currently has an 80 percent investment in Malaysian company Axiata and 20 percent of Nepalese. As per the Telecom Act’s provision, it needs to issue a further 30 percent shares to Nepalese.
