"The cabinet meeting held Monday approved ADBL´s restructuring plan, allowing it to divest its shares to strategic partner," said Shankar Pokhrel, Minister for Information and Communication.[break]
The government took the decision after the Privatization Committee on October 27 gave nod for divesting government-owned shares in ADBL to strategic partner under its capital restructuring plan aimed at reviving the struggled state-owned bank.
Privatization Study and Consultation Committee (PSCC) headed by Hari Rokka had also recommended the government to lower its stake in ADBL by 30 percentage points from existing 55.78 percent. The government had share investment worth Rs 1.62 billion in ADBL.
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