HR passes proposal on PPP and Investment Bill

KATHMANDU:  House of Representatives today passed the proposal on ‘Public-Private Partnership and Investment Bill-2075.’

Dr Yuba Raj Khatiwada, minister for finance had tabled the bill on behalf of the Prime Minister, KP Sharma Oli. Prior to floating the proposal, lawmaker Dev Prasad Gurung had said that there should be participatory and supportive role of the private sector for nation building.

Stressing the need of prioritizing the domestic investment rather than foreign investment, he said that investment should be approved keeping national sovereignty and security in mind.

However, lawmaker Janardan Sharma commented that although the bill was brought in order to fulfill the expectations and spirit of development, it lacks concrete plan.

Likewise, lawmaker, Som Prasad Pandey said that the role of industry is crucial in making the country prosperous. He underscored the need of a clear plan to attract foreign investment. He further added that a special and technical committee should be formed to monitor the IBN.

Lawmaker Khagaraj Adhikari stressed the need of increasing the limit of capital at a time when the country has moved ahead towards the journey of prosperity. He commented that the bill has not clearly mentioned about the provision to resolve the problem of land acquisition in executing industrial projects.

Finance Minister, Dr Khatiwada while responding the queries of lawmaker said that the bill was essential to pave the way to prosperity and socialism with the cooperation of concerned stakeholders.