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National flag carrier directed to conduct due diligence audit
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Kathmandu, Dec. 6 -- The Tourism Ministry has directed the Nepal Airlines Corporation to conduct its due diligence audit, a move that allows the government to sell shares in the national flag carrier or to induct a strategic partner into it.
Tourism Minister Rabindra Adhikari told the Parliamentary Public Accounts Committee (PAC) on Wednesday that the due diligence audit would allow them to ascertain the actual financial status of the corporation before going for a strategic divestment in the "immediate near future".
Due diligence is an investigation or audit of a potential investment or product to confirm all facts, such as reviewing all financial records.
"The national flag carrier has become too tough to handle. It will not move ahe...
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