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The government has no intention to sell state-owned mobile operator Teletalk and will decide the future of mobile financial service (MFS) provider Nagad only after ongoing legal proceedings conclude, as both institutions play a crucial role in maintaining competition and preventing market dominance, Posts, Telecommunications and Information Technology Minister Faqir Mahbub Anam has said.
"We need Teletalk in the market. If we leave the market entirely to private operators, competition will be affected," the minister told journalists on Tuesday, reaffirming that the government intends to modernise rather than privatise the state-owned operator.
Defending Nagad's continued presence, he said the MFS platform also serves an important public interest. "Nagad is a public service. Because Nagad exists, others like bKash cannot simply raise prices," he said, adding that any decision regarding the company would have to await the outcome of court proceedings.
The remarks came amid renewed market speculation following expressions of interest from foreign investors in Bangladesh's state-owned telecom and digital financial assets.
The minister disclosed that several companies had approached the government with proposals involving Teletalk, including outright acquisition and strategic partnerships. However, he said the administration had firmly ruled out selling the operator and would instead pursue measures to strengthen its operations and competitiveness.
His comments follow a proposal from VEON, the parent company of private mobile operator Banglalink, which recently expressed interest in collaborating with both Teletalk and Bangladesh Telecommunications Company Limited (BTCL). The company proposed combining Teletalk's operations with Banglalink while also indicating its interest in investing in Nagad.
The proposal gained further attention after VEON Chairman Augie K. Fabela met Prime Minister Tarique Rahman on June 29 and pledged support for mobilising '1 billion US dollars' in investment for Bangladesh's digital economy.
According to the proposal, VEON itself would invest '250 million US dollars' as the lead investor while leveraging its international network to attract the remaining funds. The planned investments would focus on next-generation digital infrastructure, digital banking, mobile financial services, artificial intelligence and advanced connectivity technologies.
Responding to questions over VEON's reported interest in Nagad, the minister said the government would not take any decision until ongoing legal disputes surrounding the platform are resolved.
He also referred to allegations raised during the previous interim administration regarding financial irregularities at Nagad, where reported discrepancies ranged from 6.20 billion taka to 17.00 billion taka. The matter, he said, is being investigated by the Anti-Corruption Commission.
"Once money leaves people's pockets, it is very difficult to recover," he remarked.
During the briefing, the minister also outlined a broader reform agenda for the telecommunications and ICT sectors, saying the government was working to restore transparency, improve governance and complete priority infrastructure projects.
Among the government's immediate priorities is bringing the Rooppur Nuclear Power Plant into operation. Describing the project as a national necessity, the minister said fuel loading had already begun and officials were working closely with Russian experts to connect the first unit to the national grid by the end of August if everything proceeds as planned.
He noted that Bangladesh had already begun paying interest on the project's financing and that delaying operations would only increase the country's financial burden before principal repayments begin in 2028.
The minister also slammed widespread inefficiencies in publicly funded technology infrastructure, saying many Hi-Tech Parks and innovation centres constructed in recent years remain underutilised because they failed to attract investors or generate employment.
"We have built many buildings... they are lying idle; we are not getting investors," he said, stressing the need to develop a practical strategy to put the facilities into productive use.
On public procurement, he pledged reforms aimed at creating a more competitive bidding environment by removing restrictive requirements that often prevent new firms from participating.
The government is also reviewing the Digital Star Project-previously known as the Tiger Project-which aims to expand telecommunications connectivity to the union level. Officials are currently assessing whether underground or overhead fibre-optic infrastructure would provide the most efficient solution.
"Give us some time; I am trying to straighten things out," the minister said, adding that the proposed Telecom Ordinance introduced by the previous interim administration is also being reviewed to ensure it serves the country's long-term interests.
Regarding the National Equipment Identity Register (NEIR), he said he had not yet completed a detailed assessment but intended to simplify the system while remaining within the legal framework.
The minister said the government aims to complete 70 to 80 per cent of its ongoing projects by December this year and is implementing its development agenda in line with the administration's 31-point manifesto.
"I believe in transparency," he said, emphasising that future investments would focus on practical public services rather than projects lacking clear economic value.
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