The federation has stated that property worth around Rs 200 billion belonging to businessmen has been 'held' due to the ban on property sales due to the lockdown.
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The Nepal Land and Housing Development Federation has stated that the ninth amendment to the Land Ordinance passed by the Council of Ministers will revitalize the country's sluggish economy.
In a statement issued on Friday, the federation thanked the government for the recent passage of the ninth amendment to the land ordinance, which has been raised for a long time.
'The federation expresses its heartfelt gratitude for the government's recent passage of the Land Ordinance, Ninth Amendment-2082, by the Council of Ministers and recommendation to President Ram Chandra Poudel for formalization,' the statement issued by the federation said.
Federation President Bishnu Prasad Ghimire said that he is confident that the verification of the land ordinance will provide relief to businessmen who have been in trouble for a long time due to land restrictions. President Ghimire said that with the issuance of the ordinance, businessmen will be able to sell and distribute housing and apartments that could not be sold due to land restrictions, and the buyer will be able to get the land certificate in his name.
The Federation has stated that about 200 billion rupees worth of property of businessmen has been 'held' due to the ban on property sales due to the lockdown. The Federation has stated that due to the lockdown, even the banks that invest in businessmen are in trouble.
The Federation has stated that the real estate sector is an 'industry of industry' and therefore it is necessary to make this sector dynamic. The Federation says that when the real estate sector is dynamic, the cement industry, rod industry, brick industry, wood industry, aluminum industry, ballast industry, sand industry will run well, youth will get employment and the country's economy, which has been sluggish, will also be dynamic.
The Federation has urged the government to permanently resolve this issue as even though the local government has taken the responsibility of land classification, the local government has not classified the land on time and even the land division is being opened and stopped.
The Federation believes that this ordinance, which the current government is trying to bring after understanding the problems of businessmen, will benefit not only the businessmen but also the entire state.
