The Ministry of Infrastructure Development has automatically canceled the licenses of 44 construction firms and companies after they failed to renew their licenses on time.
The Ministry of Infrastructure Development has announced that the licenses of 44 construction firms and companies are automatically canceled. This action was taken because these business owners did not renew their licenses within the given deadline.
Failure to Renew Licenses on Time
According to the Construction Business Promotion Branch under the ministry, there is a rule under sub-section (3) of section 5 of the Construction Business Act, 2055. This rule says that all construction businesses must mandatorily renew their licenses for the fiscal year 2082/83 within the end of Chaitra 2082. Since these 44 construction companies did not renew their license within this time, their license got automatically canceled.
The ministry also stated that the cancellation was done according to sub-section 3 of section 7 of the same act. For the purpose of section 7 (4) of same act, the ministry published this information as per secretary-level decision made on Ashar 17.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
