Govt working on new company act

The government is working out the regulations as per the new Company Act, which was introduced to make the companies more competitive and transparent, said Bharat Bahadur Thapa, secretary at the Ministry of Industry, Commerce and Supplies recently.Speaking at the closing ceremony of 'Training Progrmame for Company Secretaries,' organised by Corporate Financial Governance Project.

Thapa said the Nepalese companies should prepare themselves to face international competition and they should also maintain good corporate governance.He said that the companies needed to gain goodwill of the people to sustain in the market in the present context.

"The competent company secretaries can work in this regard,"he added.President of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) Chandi Raj Dhakal said the Nepalese companies needed to be competitive, as Nepal had already opened its market for international competition.

He said the companies needed to recruit competent secretaries.He also stressed the need for equitable distribution of goods and services to the people from the companies while stressing the need to respect the voices for inclusive democracy and economy.The company secretaries who received training were distributed certificates during the programme.