PM Directs Authorities to Ascertain Legitimacy of Ncell's Share Deal   

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PM Directs Authorities to Ascertain Legitimacy of Ncell's Share Deal   

December 5: Expressing serious concerns over the news circulating about the sale and purchase of Ncell's share, Prime Minister Pushpa Kamal Dahal has directed the concerned authorities to determinate whether the deal was in line with Nepal's existing laws and legal procedures.    
Prime Minister's press coordinator Surya Kiran Sharma told the state-owned RSS that the PM has directed the authorities to take stock about the legal compliance behind the deal.    
Sharma shared that PM Dahal has asked to immediately study the status of Nepal's telecommunications sector, impact on FDI and the revenue collection of the government from the commercial deal of Ncell.    
The Malaysian company 'Axiata Group Berhad' had decided to sell its 80 per cent of the shares to Spectrlite UK Limited, a company based in the UK.    
Questions have been raised from different walks of life over the legitimacy and transparency of the business deal as it was agreed without informing the regulatory body as well, RSS reported.    
Likewise, the Public Accounts Committee of the Federal Parliament has written to different state agencies about the status of the reported business deal of Ncell.   

Axiata, which purchased the shares of Ncell from Swedish company TeliaSonera in 2016 for Rs143 billion recently decided to sell its stakes in less than Rs 7 billion, raising suspicion about the deal.

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