September 30: The Legislature-Parliament has endorsed the Industrial Enterprises Bill. The Parliament meeting held on September 29 approved the Bill two years after it was presented in the legislative body. The bill will be enacted as law after getting approval from the President replacing the Industrial Enterprises Act, 2049.

Private sector has been long demanding the house to pass the Bill. The Bill for the first time has incorporated ‘No Work No Pay’ system which has been a major demand of the country’s private sector. Assuming the strength of industrial relation as the basis for productive growth, it has provisioned non-distribution of salary during the period of no work.

Similarly, the Bill has made strikes punishable offence if such activities obstruct the operations of industries. It has also made mandatory for the industrial sector to fulfill the required human resource from Nepali citizens. However, it has exempted such condition if there is non-availability of special skills and capacity of Nepali citizens.

Industry Minister Nabindra Raj Joshi believed that the approval of Bill will create conducive environment for industrial investments. “The unanimous endorsement of the Bill by the Parliament delivers a big message,” Joshi said. He continued saying, “It is a pleasurable moment to see all political parties coming in one place for the country’s economic development.”

Likewise, the Bill has eased the registration process of industries. It has provisioned that Environmental Impact Assessment (EIA) and Environment Effect Analysis (EEA) of industries can be done after the establishment, operation and commencement of commercial production of the industries.

Likewise, the Bill has provisioned free of cost registration for micro-enterprises. It also has introduced the ‘One window policy’ to provide the services of Department of Industry in convenient and easy way. The Bill has also incorporated provision to register complaints directly to the Ministry if the concerned authorities delay in registering industries in stipulated time.

Similarly, the Bill has validated the electronic transactions for industries and businesses. Meanwhile, on the corporate social responsibility (CSR) side, the Bill has made mandatory for businesses making turnover of Rs 150 million yearly to spend one percent of their profit. 

The private sector has welcomed the parliament’s initiative.  “Hopes of increase in investments have revived with the parliamentary endorsement of the much-awaited Bill,” said Hari Bhakta Sharma, President of Confederation of Nepalese Industries (CNI).