CNI urges for legal reforms to improve industrial climate

KATHMANDU, JANUARY 8: The Confederation of Nepalese Industries (CNI) has asked for legal reforms to improve the industrial climate in the country.

It came up with such a demand through its new booklet titled “Legal Reforms: A Foundation of Prosperous Economy” released today in the press conference.

As per the booklet, there should be amendments in 18 Acts and 10 Regulations while 5 laws need to be revoked. Similarly, it demands the formulation of 3 new laws and the annulment of 5 laws, among others.

The said acts, in particular, include Industrial Enterprise Act 2076 B.S, Income Act 2058 B.S, Company Act 2063 B.S, Forest Act 2076 B.S, Foreign Investment and Technology Transfer Act 2075 B.S, Public-Private Partnership and Investment Act 2075 B.S, Special Economic Zone Act 2075 B.S, etc.

“The booklet broadly aims to support the government to expedite the socio-economic growth of the nation. It is prepared in close consultation with experts in the related fields, informs Rajesh Agrawal, president of the CNI.