Only two companies apply for ‘PM Entrepreneurship Award’
By the deadline today evening, only two companies have applied for the 'Prime Minister Entrepreneurship Award,' according to the Ministry of Industry.
We have received applications from Dabur Nepal and Reliance Spinning Mills until today, the deadline for submitting application, said a ministry official.
Reliance Spinning Mills – a joint venture of Golyan and Maliram Shivkumar (MS) Group – and Dabur Nepal – an Indian multinational – have submitted their applications for the award, he said, adding that the award was announced in the budget for the current fiscal year 2013-14 to create investment friendly environment.
The government has planned to honour and recognise investors making more than Rs 1 billion investment in Nepal with the Prime Minister Entrepreneurship Award.
The ministry had on February 17 asked the investors to submit their application within 15 days along with details of their investment and declaration that the investor or his/her firm/company has not been blacklisted by any agency. Likewise, applicants should also voluntarily admit that they or their firms don't owe any dues to the government or courts.
They also had to submit their latest shareholding structure and latest audit report of their company endorsed by annual general meeting.
According to the ministry, some 96 companies have investment above Rs 1 billion. But only around two dozen firms are currently in operation.