Licenses of 23 Construction Companies Revoked for Failure to Renew on Time

KATHMANDU: The Construction Business Promotion Branch under the Ministry of Physical Infrastructure and Transport (MoPIT) has revoked the licenses of 23 construction companies that failed to renew on time. The announcement was made on Thursday, indicating that the licenses were automatically revoked due to non-compliance.

According to the Construction Business Act, the licenses needed to be renewed by mid-March 2024 for the fiscal year 2024/25.

The companies affected by this decision are primarily based in Kathmandu and include notable names such as Future Star Construction, Himalayan Infrastructure Development Company, Bhumi Infrastructure, Madan Construction, and Dhorfidi Construction Services, among others.

The full list of companies whose licenses have been revoked is as follows:

1. Future Star Construction
2. Himalayan Infrastructure Development Company
3. Bhumi Infrastructure
4. Madan Construction
5. Dhorfidi Construction Services
6. The Rising Construction
7. Sirohiya Construction
8. Trishul Construction Services
9. Srijunga Construction Services
10. Ghanteshwar Construction Services
11. Naula Malika Construction Services
12. Toshe KR Construction Services
13. Everything Solution Construction
14. Rupali Construction
15. Rudra Kumar Kakshapati Construction Services
16. Emrin Thakur Construction Services
17. V Con
18. R Komal Construction
19. Aman Construction
20. Radha Krishna Construction Services
21. Pabitra Multiple Construction
22. Florida Construction

The Construction Business Promotion Branch emphasized the importance of timely renewal to maintain operational status and compliance with regulatory requirements. The revocation of these licenses serves as a reminder to other construction companies to adhere to the renewal deadlines to avoid similar consequences.

The affected companies will now face significant operational challenges and will need to address their compliance issues before they can resume their business activities. The Ministry of Physical Infrastructure and Transport is expected to monitor and enforce the regulations strictly to ensure the integrity and reliability of the construction industry in Nepal.

Fiscal Nepal |
Friday July 5, 2024, 11:45:50 AM |

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