Government Extends Deadline for Renewal of Private Firms’ License

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Government Extends Deadline for Renewal of Private Firms’ License

January 11: The government has extended the deadline for renewal of license of private firm till April 2 considering the impact of Covid-19.

The Ministry of Industry Commerce and Supplies amended the Private Firm Registration (13th amendment) Regulation 2077 to extend the deadline so that the firms that were unable to renew their license since last March can complete the renewal process.

The private sector had requested the government to extend the deadline for renewal of private firms’ license stating that they were unable to do so due to the lockdown imposed on March 24.

Amending the regulation, the ministry decided to allow the firms to renew their license without any late fee or fine.

The Ministry has already directed the Department of Industry, Supplies and Consumer Protection in this regard, informed Shiva Raj Sedhai, spokesperson for the department.

The government has also decided to renew the license of firms that have failed to do so since the last 34 years, provided that they furnish clarification for the reason behind not renewing their license.

The ministry said in a directive that firms that have not renewed their license since 1985 will be allowed to renew it after paying a certain amount of fine.

Altogether 500,000 firms were registered with the department in 1985. Spokesperson Sedhai informed that only less than half of them have been regularly renewing their license.

 

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