Kathmandu, January 30
The committee formed to probe the sale and purchase of Ncell shares has submitted its report to Prime Minister Pushpa Kamal Dahal on Monday.
Committee Coordinator, Tanka Mani Sharma Dangal submitted the report in the presence of Minister for Communications and Information Technology, Rekha Sharma.
On December 7, 2023, the government formed a probe committee under the coordination of former Auditor General Sharma. The committee was ordered to investigate issues related to compliance with existing laws concerning the decision on the sale and purchase of Ncell shares, revenue implications, and potential impacts on foreign investment.
In its report, the committee has recommended that the government not allow the sale of Ncell shares in its current form. It suggests not accepting the agreement as both parties, the seller and buyer, failed to seek approval from the Telecommunication Authority before the share transactions.
In the statement released on Monday, the committee said that Ncell’s purchase and sale agreement did not align with the arm’s length principle when assessing its terms and conditions.
