Kathmandu. Minister for Land Management, Cooperatives and Poverty Alleviation, Balram Adhikari, has said that the active participation of businessmen is necessary to develop the real estate sector as a prestigious industry. At a program organized today on the occasion of the third foundation day of the Nepal Land and Housing Development Federation, he said that it is the responsibility of businessmen to dispel the misconceptions about the real estate sector.
‘In some countries of the world, real estate has been promoted as a prestigious industry, but in our country, this sector is not able to give a good message,’ Minister Adhikari said, ‘It is necessary to dispel the misconception that real estate business is done only for profit in Nepal.’ Urging businesses to operate in accordance with the prevailing laws of the country, he said that businesses will not expand until such misconceptions are dispelled.
He informed that the government is making policy, legal and procedural reforms to facilitate the private sector. Minister Adhikari clarified that preparations are underway to revise the six-decade-old survey and land-related act. ‘A ministry committee is being formed to prepare a draft of the land-related act, it will be finalized through discussions with experts and stakeholders, and the survey act has been prepared,’ he said.
Fund founder and advisor Buddhi Narayan Shrestha mentioned that the real estate business has a great contribution to the country’s economy. He said that the problems seen in the sector should be ended by discussing with the concerned businessmen. ‘In the nine months of the current fiscal year, Rs 33 billion in revenue has been collected from the real estate business, the stigma attached to businessmen in this sector should be removed,’ he said.
Fund President Bishnu Prasad Ghimire said that real estate businessmen are ready to join hands with the government for the economic prosperity of the country. He urged the business community to remove the policy and legal confusion that has been plaguing them. At the program, Minister Adhikari honored the founder and border expert of the Federation, Shrestha, and advisor, Minmar Shrestha.
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