PM Dahal expresses concerns on the controversial deal of Axiata on Ncell stakes

Published On: December 4, 2023 09:10 PM NPT By: Republica  | @RepublicaNepal

‘Ncell cannot sell its shares without the government’s consent’ 

KATHMANDU, Dec 4: Prime Minister Pushpa Kamal Dahal, expressing his concern over the controversial deal of Axiata Group on the stakes of Ncell, has asked the authorities concerned to investigate the issue in detail.

According to the Office of the Prime Minister and Council of Ministers, Prime Minister Dahal on Monday directed the authorities to investigate whether Axiata had followed the due legal procedures while selling its shares. The prime minister also sought the immediate study of the possible impacts on Nepal’s telecommunication sector, foreign direct investment and the revenue collection of the government by the action of the Malaysian telecommunications giant.  

In a meeting with media persons on Monday, Prime Minister Dahal said the government has formed a task force to study the issue. “Without the government’s consent, Ncell cannot sell its shares,” Dahal said.

Meanwhile, the parliamentary Public Accounts Committee wrote to the Inland Revenue Department, Nepal Telecommunications Authority and the Company Registrar’s Office regarding the share transfer of Ncell by the Axiata Group. The parliamentary committee has sought clarification from the authorities on the government’s nine-point queries.    


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