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Nepal Govt Set to Amend Industrial Enterprises Act
Source: nepalnews.com
Source Date: Sunday, July 18, 2010
Focus: Institution and HR Management
Country: Nepal
Created: Jul 25, 2010

The government has initiated process to amend the Industrial Enterprises Act, 2049 for the second time. The amendment process has been taken ahead in line with the Industrial Act, 2067. The ministry of industry has formed a task force to chalk out a draft of the amendment. The task force constitutes members representing ministries pertaining to industry, law, labour, finance, commerce and supply. The task force is planning to accomplish the amendment process within three months for fiscal year (FY) 2067/68. The industry ministry is also consulting with concerned stakeholders to incorporate their suggestions in the draft paper. The Industrial Enterprises Act, 2049 saw the first amendment in 2054 B.S. The draft paper incorporates special policy level arrangements related to 'no work, no pay’, industrial security force, special economic zone, export increment, mobilisation of local resources, protection of intellectual property and additional privileges and facilities for small and cottage industries, among others.
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