KATHMANDU, Dec 22: The Office of the Company Registrar (OCR) gave operating licenses to 10,337 new companies in the first three months of the current fiscal year. The figure topped the number of annual registrations recorded in the past five years.
According to the OCR, 7,493 firms were registered in 2020/21, 7,412 firms in 2019/20, 7,984 firms in 2018/19 and 5,727 firms were registered in 2017/18.
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The OCR officials said they have been receiving an overwhelming number of applications from the interested firms mainly after a decline in infection cases related to the COVID-19. During mid-July and mid-October 2021/22, the number of registered firms was 38 percent more than the firms that were provided license during the same period last year.
Pradip Raj Adhikari, registrar of the OCR, said an improvement in the online application system and increased awareness for starting formal businesses have notably increased in the registration of the new firms.
As of now, 276,412 companies have been registered at the OCR. Around half of the registered firms are expected to be operating.
