KATHMANDU: A parliamentary panel has endorsed a proposal to jack up cash deposit and bank guarantee to establish a manpower agency by up to 29 times to tighten a noose around companies that do not work in the interest of the foreign job aspirants, reported The Himalayan Times.

According to the report, if manpower agencies intend to export 3,000 workers per year, they have to deposit Rs 5 million in government coffers and furnish a bank guarantee of Rs 15 million to start operation.

Similarly, those intending to export 3,000 to 5,000 workers per year must park Rs 10 million in state coffers and present a bank guarantee of Rs 30 million to operate their business.

Likewise, the agencies that export over 5,000 per year must deposit Rs 20 million in state coffers and furnish a bank guarantee of Rs 40 million to start operation, according to the report.