Parliamentary committee briefed on Ncell ownership handover

Kathmandu / February 2: Lawmakers have urged the State to take a decision in a judicious manner regarding the revenue that goes to the state coffers in the process of ownership handover of the telecom service provider, Ncell.

Speaking in the Public Account Committee meeting today, lawmakers acquired information on the process that Telia Sonera has to fulfill in the course of handing over the ownership to the Malaysian telecommunication company Acqueit , and on the capital turnover tax.

Committee president Janardan Sharma expressed the commitment that the revenue that the State gets in the process of ownership handover and the process that has to be followed would be done in a judicious and clear-cut manner.

He urged the Ministry of Information and Communications and the Inland Revenue Department to take an appropriate decision in this regard so that the State would not have to suffer loss of revenue.

Committee member Dr Minendra Rijal said not even a rupee of loss should be caused to the State when the ownership of the companies with international ownership operated in the country is handed over.

“The revenue that the State gets from the profits earned by the Ncell and from the handover of its ownership should not be forfeited, and the Inland Revenue Department should pay attention towards this,” Dr Rijal, also the former Minister for Information and Communications, said.

Lawmaker Pashupati Chaulagain stressed that the process to be adopted for the handover of the ownership of the company established at an investment of Rs 100 million now when its current value is Rs 140 billion should be transparent and profitable to the State. Ncell has 80 per cent international investment and 20 per cent domestic investment.

Committee’s another member Birendra Mahato said the Ncell has paid all the tax it owes to the state and confusion regarding the ownership handover only remained.

Informing the committee on this matter, Secretary at the Ministry of Information and Communications Dinesh Kumar Thapaliya said since there were some legal confusions regarding the ownership handover of Ncell, the matter was being studied.

He said the Telecommunications Regulatory Authority under the Ministry has been directed to take a decision to this connection.

Director General of the Inland Revenue Department Chudamani Sharma expressed the commitment to take an appropriate decision on the matter considering the gravity of the issue. RSS