Nepal’s small communist party demands Investment Board be scrapped

Lawmaker Prem Suwal speaks at a meeting of the House of Representatives, on Tuesday, June 26, 2018.

Kathmandu, June 26

Nepal Workers and Peasants Party (NWPP), a small communist party in the Lower House, has demanded that the government scrap Investment Board Nepal (IBN).

Participating in the ongoing discussion on the budget for next fiscal year at the House of Representatives, Lawmaker of the party, Prem Suwal, made the demand.

The Board is a government agency that mobilises and manages domestic and foreign investments for big infrastructural development projects in in the country.

Suwal said that the government agency was not suitable for the country in the current scenario. He further said that the Board was working with an intention of giving jobs and profit to foreign investors.

He further expressed his displeasure over the Board’s focus on foreign investors than the domestic ones.

Likewise, he also challenged Prime Minister KP Sharma Oli to prove the rationale of National Reconstruction Authority, accusing the government agency of delaying reconstruction works.

Not even 10 per cent of the reconstruction works have been carried out till date, vented Shahi.


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