Presenting the budget for the upcoming FY, Dr Prakash Sharan Mahat said that the information system will be developed so that integrated period report of contracts obtained by construction companies throughout the nation can be obtained.
Based on the system, Public Procurement Inspection Department can inspect the progress of the contract. If the system detects any serious faults regarding the work, the department will have the right to dissolve the construction company.
Similarly, the government has announced of facilitating private sector to borrow funds from foreign financial institutions. The government is also organizing investment summit in 2080 to encourage foreign investment in the country.
Moreover, the government has allocated Rs 1.25 billion to encourage start-ups in the country. Mahat said that venture capital and private equity funds will be encouraged to invest in start-ups.
Similarly, the government will not take any fee and charges for registration of new companies. Any one can register a new company with minimum of Rs 100 in authorized capital.
Online registration and cancelation of companies will be facilitated.
