November 10: The government’s plan to introduce an integrate law to regulate various organisations has been halted.

The Ministry of Finance had prepared a draft of the law six months ago and presented it to the Ministry of Law for suggestions. But the file is gathering dust at the ministry as the government has failed to justify the need for such law.

Altogether 37 corporations that are in existence are being operated  under the Companies Act, Special Act, Communication Act and Corporations Act.

The drafting of the law has not been able to move ahead because the finance ministry is not clear about how to regulate the organisations that different in nature.

According to a high-ranking government official, the finance ministry had sought suggestions from the law ministry regarding the regulation of various organisations by forming a separate board.

“What will happen to the existing laws? How can we bring all the organisations under the integrated law? We asked these questions to the finance ministry repeatedly but couldn’t get a satisfactory answer,” said an official at the law ministry.

The finance ministry is discussing on possible ways to move the drafting process ahead after the law ministry returns the file.

Joint secretary at the finance ministry Jhakka Prasad Acharya says they will remove the contradictory provisions in law and present the draft again to the law ministry.