. On the one hand, the government has been urging the investors of big and multinational companies to invest more in Nepal, while on the other hand, the crackdown on entrepreneurs and investors has raised questions about the investment security.

Finance Minister Dr. During a meeting with representatives of 20 big multinational and business companies, who have paid the highest tax, Swarnim Wagle urged them to invest in Nepal further.

“Invest more in Nepal, expand existing industries,” said Finance Minister Wagle.TAG_OPEN_p_64 The government will stand with you. ‘

After the request of the Finance Minister, the representatives of the companies participating in the discussion informed that plans for new investment and expansion worth about Rs 200 billion were underway in Nepal.TAG_OPEN_p_63 They pledged to increase investment in Nepal if policy stability and investment-friendly environment is ensured.

The representatives of the company informed the Finance Minister that the process of expanding investment in the productive sectors including hydropower, food, paint, hotel and beverages was underway.TAG_OPEN_p_62

“We are investing Rs 200 billion in industries like hydropower, food, hotel, paint, etc.TAG_OPEN_p_61 ”

} However, while the government is calling on investors to invest, the private sector has raised serious questions about the government’s treatment of businessmen and investors.

Ncell representative Shrestha has raised serious questions about the security of investment in Nepal. We are also one of the aggrieved parties, we participated in the auction process held by one of the banks and financial institutions. Because of this, we have now received news that our investors will also be arrested and criminal cases will be filed.

 

Ncell raises the issue of discrimination

Representatives of Ncell among the 20 big companies in the discussion complained that the government has discriminated against the company.

Dilliram Shrestha, Chief Corporate and Regulatory Officer of Ncell, said that there was no equal treatment among the service providers regarding the license renewal fee, frequency distribution and foreign exchange among others.TAG_OPEN_p_57

In a discussion organized by Finance Minister Wagle, Shrestha claimed that there is a huge disparity in the license fee between the companies providing the same type of service.TAG_OPEN_p_56

“We pay Rs 2 TAG_OPEN_p_55 0 billion in license renewal fee but other service providers like us have to pay Rs 300,000,” he said. ’

He complained that Ncell was discriminated against even in the distribution of frequencies.TAG_OPEN_p_54 He said that while another service provider received the frequency in the same situation, Ncell did not get it.

Shrestha said that the frequency has not been made available even though Ncell has said TAG_OPEN_p_53 that it is ready to pay the fee.

Hassle in foreign exchange {

}

Shrestha said that the company is facing unequal treatment even in foreign currency exchange facilities.TAG_OPEN_p_51

According to him, while competing companies can directly proceed with the process of making foreign currency payments, Ncell is facing a cumbersome system of taking recommendations from all three levels of government.TAG_OPEN_p_50

Stating that no service payment has been made for the last two years, he urged the Ministry of Information and Communications to recommend foreign currency.TAG_OPEN_p_49

}’Arrest raises questions about investment security’

Ncell representative Shrestha said that the arrest of entrepreneurs and investors has raised serious questions on the security of investment in Nepal.TAG_OPEN_p_47

} “We are also a victim party,” he said, “We participated in the auction process put up by a bank or financial institution.” Because of this, we have now received news that our investors will also be arrested and criminal cases will be filed. ’

He accused Ncell of creating unnecessary controversy at a time when the government was saying that it would bring in foreign investment through Non-Resident Nepali.TAG_OPEN_p_45

He said that such an environment would discourage foreign investors.TAG_OPEN_p_44

TAG_OPEN_p_43″Our investors have been blamed for what they have done,” Shrestha said, “This situation is very painful for foreign investors.” ’

Government urges to increase investment, private sector’s question on environment

} The government is pledging policy stability, conducive environment and government support to attract more investment in Nepal. However, the difference between the government’s investment call and behavior has been raised after the investors themselves raised the issues of regulatory discrimination, hassles of foreign currency payment and crackdown on businessmen.

At a time when big companies are planning to invest billions of rupees in Nepal, the private sector is demanding that the government not only take investors into confidence but also create a safe and predictable environment for them to invest.TAG_OPEN_p_40

} At a time when foreign and domestic investment is being tried to increase in Nepal, businessmen are worried that if one government agency invites investment and the behavior of another agency continues to scare the investors, it may have a negative impact on the long-term investment climate. In recent times, the police have picked up more than a dozen businessmen in various cases in the style of terrorism.