Nepal Telecom (NTC) also registered as Nepal Doorsanchar Company Ltd. has marked its 16th annual general meeting (AGM) on Poush 29, 2080. The meeting passed the proposal for issuing cash dividends of Rs 40 per share to its investors of the profit from the company’s Fiscal Year FY 2079/80. The event was organized at Rastriya Sabha Griha, Pradarshani Marga in Kathmandu. Nepal Telecom has started its license acquiring process as its due to expire in 2081 BS.
The AGM event had the participation that represented 92% of the shares in the company. The meeting unanimously approved the annual report of the board of directors for FY 2079/80 along with the auditor’s report, balance sheet, profit and loss account, cash flow statement, and other schedules till the end of Ashar 2080.
Nepal Telecom holds 16th Annual General Meeting
- Nepal Telecom 16th AGM Highlights
- Auditors selected and new shareholders’ representatives elected
- Nepal Telecom Chairman Subedi highlights expansion efforts amidst challenges
- Profits despite challenging environment
- On VoLTE and FTTH fiber expansion
- Information Highway project speeds up
- Nepal Telecom starts the process for acquiring new license- reveals BoD chairman Subedi at 16th AGM
- Ntc ready for 5G
Nepal Telecom 16th AGM Highlights
Auditors selected and new shareholders’ representatives elected
Likewise, the general meeting also appointed chartered accountants Narendra Bhattarai and Mahesh Kumar Guragai as auditors to audit the company’s accounts for FY 2080/81. The meeting has also fixed their remuneration. Both decisions were made per the recommendation of the Auditor General’s office and the company’s audit committee.
At the same time, Manish Jung Joshi has been elected unopposed for the company’s Board of Directors to represent the public shareholders.
On this occasion, the chairman of the company’s board of directors and the secretary of the Ministry of Communication and Information Technology (MoCIT), Mr. Ramkrishna Subedi welcomed the shareholders present at the general meeting and presented the 16th annual report of the company.
Nepal Telecom Chairman Subedi highlights expansion efforts amidst challenges
While presenting the report, the Chairman Mr. Subedi highlighted the company’s efforts in service expansion. He said that amidst intense competition in the telecommunication industry, Nepal Telecom has prioritized expanding services in remote and rural areas instead of focusing on making a profit. Likewise, the company, he emphasized, is supporting the implementation of the state’s Digital Nepal vision. The company is also playing a supportive role by working actively on e-governance while expanding and providing high-quality services by constructing an information highway with optical fiber.
Profits despite challenging environment
During the assessment period, Mr. Subedi noted that the company’s voice service market increased by 7.82% to reach 61.51%. “Despite internal and external adversities, the company has managed to generate a revenue of Rs 44.42 billion and made a profit of Rs 7.92 billion.” Likewise, he added, “The company has filed Rs 28.46 billion in taxes and fees contributing to the country’s national economy.” The contributing amount translates to 64.07% of its total revenue.
On VoLTE and FTTH fiber expansion
The chairman Subedi also pointed to the growth of Ntc’s multiple services and their rigorous expansion activities. He noted that Ntc has expanded VoLTE and FTTH fiber internet service to promote information technology usage.
As a result of its continuous efforts, the company has spread modern communication services across 77 districts till the end of the assessment period. Out of which, Nepal Telecom fiber has reached 74 districts, the latest one being East Rukum. Find out the latest update on Nepal Telecom FTTH fiber internet availability.
In the meantime, the company has continued its service expansion efforts in the remaining local bodies in extremely remote areas with appropriate technologies. The other works also include expanding high bandwidth connectivity, and Value Added Services (VAS) based on content. He said that necessary arrangements have been made to encourage studies and research to expand technology and services based on innovation and development in this area.
He said that the RTDF-funded information highway project has gathered pace so as to make maximum outcomes.
Information Highway project speeds up
Speaking further, Chairman Subedi said that the backbone network has been upgraded for 4G LTE and FTTH service expansion. As far as feasible, underground and ADSS optical fiber have been deployed to accelerate the information highway project. Where not possible, services will be provided via microwave radio link and satellite link. In areas without electricity, Ntc has prioritized providing services using solar panels for power sources.
Ntc 4G has reached 98% of local bodies across Nepal. The network unlocks high-speed mobile broadband enabling faster download upload, video chats, and smooth smartphone gaming.
Nepal Telecom starts the process for acquiring new license- reveals BoD chairman Subedi at 16th AGM
Nepal Telecom has prioritized replacing traditional telephone service with FTTH. Customers on 2G is still high and the work is ongoing to upgrade them to 4G in remote areas. The company’s license is expiring in 2081. At this, the company chairman said that the company has already started the process of acquiring new (second) license as the existing act allows.
Ntc ready for 5G
He also said that the company is ready to test its 5G network with the necessary infrastructure. If the regulator allows, the company will begin its 5G test. The company will act on its restructuring as per the telecom industry and make use of human resources. Currently, Nepal Telecom is trialing its 5G network in Kathmandu, Pokhara, and Birgunj.
Mr. Subedi also pointed out that voice demand and revenue from it are decreasing globally. He said that modern services such as OTTs are posing challenges to the telecom industry’s revenue stream. This has led to the company making new efforts to combat the challenges.
He said that Ntc’s activities will be directed towards expanding various services in cooperation with partner organizations by establishing relations with national and international institutions. The company expects full cooperation from the employees working in the company, regulatory bodies, and shareholders as usual.
As decided, the dividend amount of Rs 40 per share will be distributed to the public shareholder’s account on the day of the AGM itself.
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