The Commission for the Investigation of Abuse of Authority (CIAA) on Monday directed Chilime Hydropower Company to issue its shares to the public within three months. The constitutional anti-graft body also directed Securities Board Nepal to enforce the law after it (CIAA) found that the hydropower company had not issued ordinary shares for three years although it had allocated shares for its employees three years ago. CIAA also ordered the board of the hydropower company to review its power purchase agreement with Nepal Electricity Authority (NEA) as the current one has been causing the company losses.
Source: eKantipur
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Sunday, November 9, 2008
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