Nepal to establish 'Matribhumi Fund' for AI and fuel storage, divest Nepal Telecom shares
Nepal's Finance Minister Swarnim Wagle announced the establishment of a sovereign 'Matribhumi Fund' to finance strategic projects, including AI factories and a three-month fuel reserve. The government also plans to divest 34% of its shares in Nepal Telecom to the public, retaining a 66% controlling stake, with proceeds intended for developing Nepal as a technology hub.
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