KATHMANDU: The government has initiated an investigation into the purchase and sale of shares within Ncell, a private telecommunications company. In a bid to delve into this matter, a study committee will be established, led by Minister of Communication and Information Technology, Rekha Sharma.

Addressing editors of various media houses at Singha Durbar on Monday, Prime Minister Pushpa Kamal Dahal ‘Prachanda’ expressed his concerns regarding the sale of shares within Ncell, stating, “During my absence from Nepal, I learned that shares valued at 130 billion were sold for 6 billion by the buyer and seller. It’s not a matter to be disregarded, nor will it be.”

Prime Minister Dahal, in discussions with Chief Secretary Baikuntha Aryal on Monday, highlighted the urgency of examining the transactions involving Ncell shares. Following their discussions, it was decided to form a team under Minister Sharma’s leadership to conduct a thorough investigation.

“The Telecommunications Authority has also shown keen interest in this matter,” PM Dahal stated. He reiterated the government’s prior stance on tax collection from Ncell, emphasizing the importance of adhering to established legal protocols.

This move comes at a time when the government is under scrutiny for alleged silence regarding the sale of 80 percent of shares by the Malaysian holding company Axiata to Satishlal Acharya’s firm within Ncell, which is predominantly a foreign-invested entity.

Prime Minister Dahal clarified that the decision to intervene in Ncell’s share transactions would hinge on the findings and recommendations arising from the upcoming investigation.

“The fate of further share transactions within Ncell will be determined based on the outcomes of our study,” remarked Prime Minister Dahal, underscoring the significance of this investigative step.