Government to amend 59 laws at once to remove investment hurdles, discusses draft with private sector

The government has held discussions with the private sector on the draft of a bill that would amend 59 laws at once to remove legal hurdles in the investment and infrastructure sectors.

At the discussion organized by the Office of the Prime Minister and Council of Ministers at Singha Durbar on Friday, law secretary Pushkar Sapkota presented 474 provisions identified for amendment.

The draft has been prepared with the aim of removing problems faced by investors, such as administrative hassles, delays in approvals, land acquisition and tax uncertainty. It proposes fixing, in law itself, the time limit within which government bodies must give decisions on 180 matters.

The reforms span investment, industry, banking, tax, energy, land, the digital economy, dispute resolution, forests and the environment, and social security.

The discussion was attended by the prime minister's political adviser Asim Shah, policy, administration and governance adviser Sudip Dhakal, and members of parliament. Representatives of the Federation of Nepalese Chambers of Commerce and Industry, the Confederation of Nepalese Industries, the Nepal Chamber of Commerce and the Hotel Association of Nepal also took part.

Secretary Sapkota said participants gave verbal suggestions sector-wise, and stakeholders said they would also submit further suggestions in writing.

The discussion was held in preparation for the infrastructure conference scheduled for Mangsir 23 and 24.