Committee formed to study Ncell’s ownership transfer submit its report

KATHMANDU: A committee established by the government to study the sale of 80% of states in the telecommunication operator Ncell has submitted its report.

A cabinet meeting held on December 7 formed the committee under the leadership of former Auditor General Tanka Mani Sharma after the Malaysian firm said it had sold all its stakes to Satish Lal Acharya, a Singapore-based businessman of Nepali origin. Axiata hadn’t informed the concerned agencies about the share transfer agreement.

Fanindra Gautam, Babu Ram Bhandari, Ritesh Kumar Shakya and Sunaj Kumar Kafle are the other members of the committee.

Sharma handed over the report to Prime Minister Pushpa Kamal Dahal on Monday.

The share transfer in Ncell has been temporarily halted by the Patan High Court pending a final decision.