Himal Press 
KATHMANDU: Prime Minister Pushpa Kamal Dahal has assured that the government will take appropriate legal action if any wrongdoing is uncovered in Ncell’s share purchase agreement.
Malaysian telecom giant Axiata’s decision to sell its 80% shares in Ncell, a leading telecommunication service provider in Nepal, to UK-registered company Spectrelight Ltd has raised eyebrows and prompted allegations of undervaluation and potential tax evasion. Critics argue that the deal might be a deliberate move to hinder the smooth transition of ownership to the Nepalese government after six years. Some have even accused the involvement of political leaders, including PM Dahal himself, of facilitating the agreement.
Speaking at the State Affairs Committee of the House of Representatives on Tuesday, Dahal said he knew about the development when he was in Dubai to attend the COP -28 climate conference. “When I returned to the country, I instructed the Ministry of Communication and Information Technology, along with the Nepal Telecommunication Authority, to conduct an immediate investigation into the agreement,” Dahal said.
He also said the government formed a five-member study and investigation committee, led by former Auditor General Tankamani Sharma Dangal, to study the deal. The committee, among others, has been asked to conduct a comprehensive analysis of the share purchase and sale, the transfer of ownership of Ncell, and an assessment of the potential impact on Nepal’s telecommunications sector, foreign investment, and government revenue. It has been given thirty days to submit a detailed report with recommendations for immediate and future reforms in Nepal’s telecommunication sector.
On the occasion, Members like Ajaya Chaurasia and Ambika Basnet questioned Prime Minister Dahal about the alleged involvement of his family members in the deal.
A few days ago independent lawmaker Amresh Kumar Singh claimed that PM Dahal’s daughter Ganga facilitated the deal.
“I have come to know that the study is already underway, with the committee collaborating with regulatory bodies such as the Nepal Telecommunication Authority, Office of the Company Registrar, Department of Industry, Nepal Rastra Bank, Inland Revenue Department, Taxpayer Service Office, and the Securities Board of Nepal,” Dahal added.
