First Business News Portal in English from Nepal
KATHMANDU: The government has extended term for sick projects by additional one year.
The government has made another amendment within three and a half months of the Public Procurement Regulation. According to the demand of construction businessmen, 12th amendment has been made in their favor.
Information about the amended regulations has been published in the Gazette so that the period of sick project can be extended for another one year. Entrepreneurs will be able to apply for the project within 21 days with the revised schedule for extending the duration of the sick project. The rules have paved the way for extension of tenure for the authorized officer till mid-July 2080 BS.
Now the contract up to Rs 5 billion will be given to the Nepali contractor company. Earlier, the 11th amendment was done so that only Nepalese can get contracts up to Rs 3 billion.
Earlier, only Nepalese contractors used to get contracts up to one billion rupees. However, the number of contracts awarded to Nepalese contractors has been increased by Rs 4 billion in three months.
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