•   Wednesday, 12 Jun, 2024

PAC to convene meeting on Wednesday to discuss Ncell's share sale

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KATHMANDU, Dec 5: A meeting of the Public Accounts Committee (PAC) of the House of Representatives will be convened to discuss the sale of shares of Ncell. According to the committee’s  Secretary Ekram Giri, the meeting is scheduled for 2PM on Wednesday.

The committee aims to discuss the sale of shares of a foreign company holding 80 percent ownership of Ncell, exploring potential violations of legal processes or tax evasion.

According to the chairman of the committee, Rishikesh Pokharel, the PAC is preparing to investigate the sale of shares of Ncell. The regulatory body will provide details for examination after which the committee will proceed with its study.

Earlier, the PAC had written a letter to the regulatory authorities, suspecting tax evasion in the sale of Ncell shares.

The letter directed to the Nepal Telecommunication Authority, Company Registrar's Office, and Inland Revenue Department includes nine queries. It seeks information on how the sale of Ncell shares might impact service delivery, revenue, and income tax, as well as whether any laws were violated during the transfer of rights.


Source: myRepublica
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