No knowledge of NCell transaction: Finance Minister Mahat

Kathmandu: Finance Minister Prakash Sharan Mahat on Monday presented a somewhat rosy picture of the national economy, while washing the government’s hands of a highly controversial transaction involving NCell, a telecom service provider company. 

Mahat said the economy was recovering gradually and expressed hope that an increasing inflow of tourists as well as remittances will give the economy a boost. 

Many policy-level decisions have been taken for improving the economy, Mahat said: It will take some time for the economy to fully revive. 

Responding to journalists' queries regarding the sale of NCell’s shares, Minister Mahat claimed that the government had no knowledge of the transaction.  "We have been gathering information on this transaction. Telecom (Nepal Telecommunications Authority) is the regulatory body whose permission has to be sought while carrying out such a huge transaction." Minister Mahat said the government is inquiring with Telecom officials regarding the impact of the transaction.