KATHMANDU, July 18: Communication and Information Technology Minister Prithvi Subba Gurung has stressed on expanding the advertising market to boost revenue.
He instructed authorities to address leakages within this sector. Minister Gurung highlighted the need for collaboration between federal, province, and local governments to tackle discrepancies, noting that despite a 30 billion rupee market, only 13 billion rupees in transactions are documented, with local outdoor advertising contributing just Rs 2 billion in revenue.
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Minister Gurung on Wednesday directed the Advertisement Board Nepal to draft an action plan for market development.
Chairman of the board, Laxman Humagain, said that the first amendment to the Advertisement Regulation aims to curb market leakages by requiring media copies for advertising payments, ensuring transparency in agency service fees.
Humagain further said that efforts are ongoing to draft laws for revenue collection of local outdoor advertisements, in collaboration with the Ministry of Federal Affairs and General Administration.
He highlighted forthcoming laws to regulate social media advertising and local-level advertisements in cinemas, theaters, and fairs, indicating provinces will soon draft regulations under their respective jurisdictions.
Established in 2078 BS, the Advertisement Board oversees advertisement regulations across federal, province, and local levels. The code of conduct for advertising production, distribution, publication, and broadcasting has been implemented since 2079, focusing on promoting public interest through local media channels.
