Cg Telecom on the Verge of Grabbing the Unified License, Paying the Remaining Installments at Once

CG Telecom

CG Communications Pvt. Ltd. (CG Telecom) under Chaudhary Group is preparing to get the necessary permission from the government for the expansion of mobile services across the country.

CG, which has been demanding a license for basic telephone services for a long time to expand its services across the country, is now paving the way for it again.

For that, the company had recently requested the regulatory body, Nepal Telecommunication Authority, to facilitate the payment of the remaining installment amount at once.

In which the company had demanded information from the authority about whether an additional fee or additional interest will be levied if the remaining installment is paid at once.

Accordingly, the NEA board meeting held on Monday has decided not to charge an additional 2 percent interest if CG Telecom pays the remaining installments at once and the remaining installments of the next year by January 12.

According to sources, the company is ready to repay the fifth installment next year as it will not incur an additional interest of 2 percent.

However, according to sources in the Ministry of Communications and Information Technology, CG has been vying for basic services. In such a situation, the company is preparing to raise itself by paying the entire amount due to the government.

Earlier in 2018 February 5, the company was given the facility to repay the amount of Rs. 292.92 million in five installments was provided according to the Council of Ministers.

Accordingly, he has already paid the third installment under the installment facility till last year. The first installment of Rs 58.58 million was paid.

Similarly, the company had filed Rs. 859.73 million for the second installment with NEA, while the third installment was Rs. 791.26 million last year.

Similarly, in the fourth installment, the company has to pay Rs 72.278 million with 2 percent fee and in the fifth installment, the company has to pay Rs 65.43 million to NEA.

The company has to pay a total of 137.71 million rupees for the fourth and fifth installments. However, as per the decision made by NEA, a reduction of 2 percent interest next year will result in a total payment of Rs.

It is estimated that the company may have demanded to provide this facility as paying the remaining fourth and fifth installments at the same time will save more than Rs 6.847 million.

According to NEA sources, the company has already filed the installment amount on January 11. The NEA has stated that there is no information on whether the amount has been paid or not as the decision on the next installment has not been officially signed.

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