Over 7,106 companies registered last year

KATHMANDU, JULY 23: 

Department of Commerce and Supply Management registered about 7,106 business firms across the country in fiscal year 2011-12. The department collected revenue worth Rs 63.37 million through registrations. 

According to the department, 6,821 private firms registered at the department. “Private firms — mainly grocery shops — registered at the department,” said director at the Department of Commerce and Supply Management Shankar Prasad Paudel. 

He claimed that the number of registrations have increased due to market monitoring in recent years. “We don’t have any scientific data of the past, but registration is increasing because we ask for a licence during monitoring,” he said, adding that the department has just started keeping a record of the firms. 

Renewal of licences has also increased due to the market monitoring drive, he claimed. About 8,748 firms renewed their licences in the department last year. 

However, the department monitoring record shows that 40 per cent shops or firms operating in Kathmandu valley — Kathmandu, Bhaktapur and Lalitpur districts — are not registered. 

According to firm registration laws, private firms must register themselves at local bodies (municipalities or 

village development committees) or the department and its offices. 

There is a separate entity — Company Registrar’s Office — for the registration 

of big companies. Companies with a capital of more than Rs one million are registered at the Company Registrar’s Office. 

According to the department, it registered 285 partnership firms last year while 380 firms renewed their registration. Similarly, 50 agencies of foreign companies registered themselves to work in the country. About 75 agencies renewed their licence during the period. 

The department issued 5,402 import permits to small importers who use Telegraphic Transfer, Document Against Payment and other procedures while importing foreign goods. “We issue import permits of up to $ 25,000 at a time for small importers,” he said. 

According to director Paudel, most of these small importers import goods and services from China and India. Our record shows imports from China is increasing in recent days, he added, without giving figures.

Source: THT