Ncell’s share buying and selling is suspicious Purushottam Khanal, chairman of the Nepal Telecommunication Authority, has said that the purchase and sale of Ncell shares are suspicious and will be investigated. Speaking at the Finance Committee meeting under the House of Representatives on Wednesday, Chairman Khanal made it clear that the Ncell ownership sale case would be investigated.
He mentioned that the agreement between Aziata and UK Spectralite is questionable, saying that the authority will give approval only after looking at the share price and procedural issues.
He says that a committee will be formed to investigate this matter by the Council of Ministers on the initiative of Prime Minister Pushpa Kamal Dahal ‘Prachanda’, so there will be an appropriate investigation.
He said that although the government said foreign investment in the telecom sector should be direct, the investment in Ncell was not direct. Ncell’s arrears are recovered by the authority with compensation. There is no compromise on revenue.
The government of Nepal will invest in the final with Ncell Company to make a real share market to share with the government. Ncell will, in comparison with government revenue, be given a tax deduction from the government there.