KATHMANDU: The Nepal Automobile Importers and Manufacturers Association (NAIMA) has asked the government to make agency registration rules more business-friendly.
A NAIMA delegation met Industry, Commerce and Supplies Minister Deepak Kumar Sah on Thursday to discuss the impact of the current rules on automobile businesses.
NAIMA raised concerns over the requirement to deposit 0.5% of a company’s capital when registering an agency or adding a new product. It also said the rules do not clearly define what a “product” means.
According to NAIMA, treating each model of the same brand as a separate product means businesses have to deposit money separately for each model. This can block a large amount of capital and increase the financial burden on importers.
The association has asked the ministry to clearly define “product” and remove the requirement for separate deposits for different models of the same brand. NAIMA had previously submitted written suggestions on the issue.
Minister Sah said the concerns would be considered and that the government would review the existing provisions and take steps to make the rules more business-friendly.
NAIMA said it would provide the ministry with the necessary information and suggestions during the review process.
