KATHMANDU: The Public Accounts Committee (PAC) of the House of Representatives has expressed keen interest in the recent sale of shares of Ncell, a private telecommunications service provider.
In a development, the Committee dispatched letters to entities including the Internal Revenue Department, Company Registrar’s Office, and Nepal Telecommunication Authority, formally requesting official information pertaining to the acquisition, divestment, or ownership transfer of Axiata Group’s shares in Ncell.
In an effort to gain comprehensive insights, the committee has posed nine specific questions to the relevant agencies during its initial inquiries.
The queries span crucial aspects such as the authority responsible for overseeing Ncell’s share transactions, adherence to Nepal’s legal provisions in share transactions, compliance with regulations mandating approval from the Nepal Telecommunication Authority before any share sale or transfer, and the prescribed course of action in the event of non-compliance with legal provisions, among others.
Notably, the Nepal Telecommunication Authority had previously sought information on the purchase and sale of Ncell shares, a matter that remains unaddressed as Ajita has yet to provide a response.
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