The remaining shares will be opened to the public by mid-December.
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The government has announced that it will retain only 66 percent of its ownership in Nepal Telecom and expand the remaining shares to the public. The government made this announcement through the budget for the upcoming fiscal year presented by Finance Minister Swarnim Wagle today.
According to Finance Minister Wagle, 66 percent of the shares under the control of the government will be kept in the government's ownership, while the remaining shares will be opened to the public by mid-December. Currently, the government owns 91 percent of Nepal Telecom.
He said that the amount collected from the share sale will be used to make Nepal an information technology hub. Finance Minister Wagle said that the government has an 'Arjun vision' in the communication and information technology sector.
