Nepal Army is amending laws so it can get into commercial activities
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Kathmandu, Aug. 10 -- Despite mounting criticism that the Nepal Army is increasingly getting involved in commercial activities not befitting the armed forces, the national defence force is amending the Nepal Army Act to allow it to invest in commercial ventures as a promoter, furthering its entry into business.
The Nepal Army Act 2006 acts as a legal barrier for the Army's investment in mega projects like hydropower, or in the banking sector. Though the Army is currently making millions of rupees annually out of the deposits it has in various commercial and development banks, top Army officials have expressed dissatisfaction with the returns. An amendment to the Nepal Army Act would give it leeway to make investments in businesses that y...
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