Bill on amendment to Company Act presented

Published On: November 18, 2016 03:56 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Nov 18: The Company Act (First Amendment) Bill, 2073 has been presented in the meeting of the Legislature-Parliament today. 

Tabling the bill, Industry Minister Nabindra Raj Joshi said that the bill contained provisions by which people could register an industry through electronic means from home. He added that the bill had provisions for attracting the foreign direct investment. 

"When we look at examples of other countries, we see that foreign investment is necessary for the economic development. One can also expect that the employment opportunities could be increased by means of foreign investment," he said, putting his arguments in favour of the bill. 

Lawmaker Anuradha Thapa Magar of the Nepal Workers and Peasants Party opposed the proposal of tabling the bill, contending that the Act would increase the foreign dominance and reduce the government's responsibility. 

The parliament meeting however rejected Thapa's notice of objection. RSS

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