44 Construction Firms' Licenses Automatically Canceled for Non-Renewal

Kathmandu. The Ministry of Physical Infrastructure Development has stated that the licenses of 44 firms and companies that did not renew their construction business licenses have been automatically canceled.

The Construction Business Promotion Branch under the Ministry of Physical Infrastructure Development has stated in a notice that the licenses of 44 construction businesses have been automatically canceled for not renewing within the stipulated period, which was mandatory by the end of Chaitra 2082 for the fiscal year 2082/83, as per Section 5, Sub-section (3) of the Construction Business Act, 2055.

The Ministry has stated this as per Section 7, Sub-section 3 of the same Act. The Ministry has published this information through a notice as per the decision of the Ministry's Secretary level on Asar 17 for the purpose of Section 7(4) of the same Act.