KATHMANDU: Minister for Communications and Information Technology, Rekha Sharma, has announced that the government is awaiting a comprehensive study report before deciding its course of action concerning the Ncell share sale issue.
Speaking during a meeting of the Education, Health, and Information Technology Committee of the House of Representatives today, the Government Spokesperson revealed that the study on this matter is in its final stages.
The transactions of Ncell shares are currently suspended, and the Ministry has initiated preparations to revise the Telecommunications Act. Previously, the government had formed a five-member committee, led by former Auditor General Tankamani Sharma, to investigate the Ncell share sale issue, citing irregularities in the sale procedure. The committee has been instructed to thoroughly examine the matter and submit a report within 30 days of its formation.
During the meeting, NTA Chair Purushottam Khanal highlighted the lack of uniformity between the Telecommunications Act, 2053 BS (1997), and the Foreign Investment and Technology Transfer Act, 2075 BS (2019), leading to confusion in the matter. He noted that the company had not sought permission from the NTA for selling its shares, as mandated by the law.
Tok Bahadur Bista, deputy-registrar of the Company Registrar’s Office, reported that the investigation into the matter is currently underway. However, committee members Sumana Shrestha, Chhabilal Bishwakarma, Deepa Sharma, Tosima Karki, and Badri Pandey raised concerns about the issuance of separate directives regarding the Ncell share sale without inter-committee coordination, suggesting that it may lead to duplication and cause problems.
The Public Account Committee, the Finance Committee, and the State Affairs and Good Governance Committee of the parliament have previously discussed the transfer of 80 percent ownership (shares) of Ncell from the Malaysian Axiata Group to the UK-based Spectrolite Ltd.
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