Nepal Telecom to sell 15 percent shares to public, employees

The Nepali government has decided to sell 15 shares of Nepal Telecom (NT), a government owned company, to its employees and ordinary people, local Samacharpatra daily reported on Monday.

The government took this decision as a move to privatize the company that is still in the government's control despite turning it into a company two years ago, according to NT officials.

The shares worth 32 million U.S. dollars will be sold to NT officials and ordinary people, said Sugat Ratna Kansakar, managing director of NT.

Out of 15 percent shares, 10 percent will go for public and 5 percent for NT employees, according to him.

The total capital of the company has been valued at 215 million dollars. It is the largest contributor to the government revenue among Nepal's state run enterprises.

Source: Xinhua