In a bid to provide single-window service for investors the meeting of
the Industrial Promotion Board today decided that companies established
with foreign investment can purchase and sell shares of Nepali companies
after taking approval of Department of Industry (DoI). However, it has
prevented share trading of companies with negative net worth.
Earlier, investors were compelled to take permission from the Ministry of Finance and Nepal Rastra Bank for the purpose. Following this decision, the DoI will route all the internal processes of taking approval of Ministry of Finance and other concerned agencies, according to Suman Prasad Sharma, secretary of the Finance Ministry and a member of the Industrial Promotion Board.
Board meeting led by Industry Minister Mahesh Basnet has also taken a decision to recommend the Cabinet to publish notice in Nepal Gazette to make mandatory provision for the registration of casinos as an industry and tailoring business to register as service industry.
source:the himalayan times,23 nov 2014
LINK
Earlier, investors were compelled to take permission from the Ministry of Finance and Nepal Rastra Bank for the purpose. Following this decision, the DoI will route all the internal processes of taking approval of Ministry of Finance and other concerned agencies, according to Suman Prasad Sharma, secretary of the Finance Ministry and a member of the Industrial Promotion Board.
Board meeting led by Industry Minister Mahesh Basnet has also taken a decision to recommend the Cabinet to publish notice in Nepal Gazette to make mandatory provision for the registration of casinos as an industry and tailoring business to register as service industry.
source:the himalayan times,23 nov 2014
LINK
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