Kathmandu, January 20
The Supreme Court has issued a stay order in the name of the government to not implement a decision allowing foreign investment in agriculture until a final verdict is made regarding a case filed against it.
A single bench of Justice Manoj Kumar Sharma issued the order on Tuesday in response to a writ petition filed by Punya Prasad Khatiwada. The court also issued a show-cause notice to the government seeking an explanation on why the foreign investment was essential in the country’s agriculture sector.
Earlier, organisations representing farmers and agriculture-based businesses had also protested the decision arguing it would force them to compete with foreign companies, which would ultimately defeat them.
The entrepreneurs argue the foreign investment would turn current entrepreneurs and traders into workers whereas the foreigners will reap benefits exploiting them.
They have complained that the government did not consult them before the decision although they have invested billions of rupees in the sector.