Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Rs 2.39 billion added in the rural telecommunication development fund (RTDF) under the Nepal Telecommunications Authority (NTA) in the last fiscal year 2019-20.
More than 100 firms that have taken license from NTA for different telecom and internet service had contributed two percent of their annual income to the fund as required by the law.
With rise in consumption of telecommunication services, service providers have been doing brisk business and helping the expansion of RTDF’s size. The government had set up RTDF in 2053 with the objective to expand telecommunication services across rural parts of the country.
Though the fund had Rs 25 billion till last fiscal year, the government has already reallocated Rs 16 billion from the fund to address its financial resources gap resulted by the COVID-19 pandemic.
Min Prasad Aryal, spokesperson for NTA, informed that Ncell’s contribution in RTDF was highest in the previous fiscal year with the company depositing Rs 1.1 billion to the fund. Similarly, Nepal Telecom has contributed Rs 736.7 million while WorldLink and Subisu has contributed Rs 61 million and 26.8 million, respectively.
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