KATHMANDU, Sept 6: A parliamentary sub-committee has been formed to reach agreement on the bill related to the Prevention of Money Laundering and Promotion of Business Environment. The Law, Justice and Human Rights Committee has formed an 11-member sub-committee with the responsibility of submitting a report after discussing the bill. The sub-committee has been given 15 days to do so.
The sub-committee consists of three members from the Nepali Congress and two from the CPN-UML in the sub-committee. There is one member each from other parties. The names of the members are yet to be decided by the Nepali Congress.
House panel approves money laundering prevention bill
Pratikshya Tiwari and Chandra Bahadur Bishwakarma from the CPN-UML are members of the committee. Ram Kumar Rai from the CPN (Maoist Center), Sobita Gautam from Rastriya Swatantra Party (RSP), Dhruba Bahadur Pradhan from RPP, Ranju Kumari Jha from Janata Samajwadi Party (JSP), Sher Bahadur Kunwar from (Unified Socialist) Party and Goma Labh Sapkota from Janamat Party are also the members of the sub-committee.
The bill related to Money Laundering was registered in the House of Representatives on February 10, 2023 last year. The parliamentary sub-committee was formed on Tuesday to discuss the bill that reached the committee on April 28.
Despite being labeled a government priority, the bill has faced criticism for its lack of progress. Stakeholders warn that if the bill is not passed by October 11, Nepal's risk of international blacklisting will increase.
