Kathmandu, Aug. 12 -- The parliamentary Public Accounts Committee on Sunday directed the government to cancel a controversial 50-year lease for 169 ropanis of land in Dhading, signed by the local government with the Nepali-Chinese joint venture cement company.
The land leased by the local government to Huaxin Cement Narayani to expand its factory lies on the banks of the Malekhu River. The Nepali-Chinese joint venture had obtained foreign direct investment approval for $140 million from Investment Board Nepal in December 2015. It began constructing the plant in March 2019.
Based on a sub-committee report led by lawmaker Lekh Raj Bhatta, the House committee on Sunday passed a decision to revoke the deal stating that the local government ha...