Rastriya Swatantra Party (RSP) has registered a letter with the Finance Committee of the House of Representatives seeking policy review following trading of ownership telecommunication company Ncell.
RSP Deputy Parliamentary Party Leader Biraj Bhakta Shrestha and lawmaker Swarnim Wagle met Chairman of the Finance Committee Santosh Chalise on Wednesday demanding discussion about overall bad governance and unfavorable investment environment revealed by the transfer of Ncell ownership.
They have also demanded that Axiata chief executive, Ncell partner of Nepali origin, finance minister, communication and information technology minister, chief executive of the Nepal Investment Board, chairman of the Nepal Telecommunications Authority and other stakeholders concerned be summoned for discussion.
Ncell announced transfer of share ownership on December 1 saying that a transaction had been agreed between Spectrlite UK Ltd and Axiata UK Ltd whereby Spectrlite would be acquiring 100% of Axiata’s stake in Reynolds Holdings St Kitts, which in its turn holds 80% of the shares in Ncell.
It identified owner of Spectrlite UK as Satish Lal Acharya of Nepali origin currently based in Singapore. “Spectrlite is pleased to announce an agreement for the acquisition of a controlling shareholding in Ncell. I will be drawing upon my extensive experience in the telecommunications industry and shall be working with the management of Ncell to drive innovations, investments, and a wide range of life enhancing services to the Nepalese people,” Acharya was quoted as saying by an Ncell press statement announcing transfer of ownership.
“Ncell is pleased with the upcoming change in ownership and eagerly anticipates collaborating with new shareholders to elevate Ncell into a world-class Nepali-driven data and communications hub. In the foreseeable future, Ncell will unveil its refined plans that underscore the substantial prospects for expanding Ncell’s service offerings. This evolution aims to maintain Ncell’s position as the leading national digital services and internet access platform,” the statement quoted Chief Executive Officer of Ncell Jabor Kayumov as saying.