Nepal telecom to distribute dividends

Nepal Telecom (NT) will soon distribute cash dividends to its share holders.
Amarnath Singh, managing director of the company said on the occasion of its fifth anniversary that NT would distribute cash dividends but did not give the details of it.
"The company has earned Rs 17.10 billion (unaudited) in the fiscal year 2008-09," he said.
During the anniversary ceremony, Minister for Information and Communications Krishna Bahadur Mahara said NT should change its working style and be more service-oriented.
The company is also going to organise its first annual general meeting (AGM) by March 13. NT floated its shares under the disvestment programme of the government and called the bid for its shares quoting Rs 600 minimum after adding Rs 500 premium to the face value of Rs 100 for each unit.
As part of the disvestment and privatisation plan, the government had sold NT's 10 per cent shares to the public -- including five per cent to the staff at a subsidised rate of Rs 90 per unit -- through auction.
Singh said the company will focus on the changing needs of customers. Five years ago, the teledensity of NT was two telephone lines per 100 persons, but now it has made significant progress as it has fiven 12 telephone lines per 100 person.
"The number of NT customers has risen sharply from 4,22,000 to 32,00,000. It has also completed the task of laying optical fiber network on the Nepalgunj-Mahendranagar road section and fixed optical network on the Kathmandu-Khasa route," said Singh.
"Telecommunication has become the people's basic need," Minister Mahara said adding that according to the need of the 21st century, it should identify its responsibilities, challenges and possibilities.
"NT should work to bridge the technological gap between urban and rural Nepal and fulfil the need for rendering quality service. Secretary of Ministry of Information and Communications and Chairman of Nepal Telecom Board of Directors (BoD) Lilamani Poudel said NT would fulfill the demands of the people.
The company also announced various discounts schemes on the occasion.