Kathmandu, 8 December: The scandal of the sale of 80 percent of Ncell is an example of daylight and organized looting by brokers and political leaders taking advantage of the loopholes in the existing laws.
Selling the shares of Ncell by undervaluing the existing price is a planned design for creating a heavy loss in national revenue under the leadership of the political leaders.
At a time, when financial experts have strongly condemned the scandal, those senior leaders in the political parties, either in the government or in the opposition, have remained silent and are seeking options to defuse the scandal.
Prime Minister Pushpakamal Dahal, Nepali Congress president Sher Bahadur Deuba, and opposition party leader K.P. Sharma Oli, are considered to be the major beneficiaries of the Ncell share purchase deal, say political observers.
Axiata UK, the major shareholder of Ncell, has decided to dispose of its shares at a very low price, blaming that there is no working environment in Nepal.
Even if the government purchases the Ncell shares set at the present price, it will be a big profit-making business, say financial observers.
Undervaluing the share price is intended to save a huge amount of government revenue that has to be paid by the seller and buyer companies, according to the observers.
Axiata UK and Spectrolite UK have made a deal to sell and buy the Ncell shares at a very low price. Spectrolite UK is a new company established by Satishlal Acharya, a noted broker, who had managed all the expenditure of the treatment and visit to Singapore of then prime minister K.P. Sharma Oli.
Earlier too, the Ncell share deal had created a great controversy as the selling company didn’t pay the government revenue.
People’s News Monitoring Service.
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