•   Saturday, 22 Jun, 2024

PM directs authorities to ascertain legitimacy of Ncell's share deal

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KATHMANDU, Dec 5: Expressing serious concerns over the news circulating around about the sale and purchase of Ncell's share, Prime Minister Pushpa Kamal Dahal has directed the concerned authorities to determine whether the deal is in line with Nepal's existing laws and legal procedures.

Prime Minister's press coordinator Surya Kiran Sharma said that the PM has directed the authorities to take stock about the legal compliance behind the deal. 

Sharma shared that PM Dahal has asked to immediately study the status of Nepal's telecommunications sector, impact on FDI and the revenue collection of the government from the commercial deal of Ncell.

The Malaysian company 'Axiata Group Berhad' had decided to sell its 80 per cent of the shares to Spectrlite UK Limited, a company from the UK.

Questions have been raised from different walks of life over the legitimacy and transparency of the business deal as it was agreed without informing the regulatory body as well.

Likewise, the Public Accounts Committee of the Federal Parliament has written to different state agencies about the status of the reported business deal of Ncell.

Source: myRepublica
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