NC to file amendment proposal on Investment facilitation bill

Kathmandu- Main opposition party, Nepali Congress (NC) has decided to file collective amendment proposal on the Investment Facilitation Bill.

A meeting of the NC parliamentary party held in Singha Durbar on Wednesday took the decision to this effect after consultation with a section of entrepreneurs, industrialists and investors on the investment facilitation bill.

A decision was made to put amendment proposal in group seeking legal reforms in the bill which is not investment-friendly, said House of Representatives (HoR) member Nagina Yadav who also attended the meeting. The amendment proposal will be registered on behalf of the NC parliamentary party also on the basis of the recommendations of industrialists, entrepreneurs and investors, she further shared.

Lawmaker Yadav said there was a need of eight-point amendments to the bill made to facilitate foreign investment facilitation. The amendment proposal will be made in the areas, including land ceiling, land acquisition, forest, public private partnership investment and Special Economic Zone.

As a party with a conviction on liberal democracy, NC has explored alternatives and thoughts on flexible measures to attract foreign investment. The entrepreneurs had also voiced their complaints for not addressing their inputs and recommendations on the bill in course of discussion earlier.

NC’s assistant general secretary said the parliamentary party held consultation with experts and stakeholders on the investment bill as part of its routine discussions on several bills. According to him, the entrepreneurs recommended the NC to emphatically put amendment proposal to bring reforms in the investment facilitation bill.

Chiefs and representatives of the umbrella organization of industrialists and entrepreneurs had attended the discussion on behalf of business community.