Tuesday 24th November 2020

Nepal Parliamentary Panel ‘Halts’ Licence to Network Marketing Business!

The decision comes in the wake of increasing complaints against network marketing businesses currently in operation.
Business

Government

News

 
Nepal Parliamentary Panel ‘Halts’ Licence to Network Marketing Business!

Amid the growing number of complaints, the parliamentary panel has decided to halt issuing licenses to the network marketing businesses that are waiting for the government approval to start their operations.

On August 4, the Industry, Commerce, Labor and Consumer Welfare Committee of the Federal Parliament directed the Ministry of Industry, Commerce and Supplies to stop issuing the licenses.

Citing the regulation of the Direct Sale of Goods (Management and Regulation) Act 2018, the parliamentary panel has imposed restrictions to allow businesses that work on pyramid-based marketing systems.

According to the panel Chairman Bimal Prasad Shrivastav, around six companies have applied for the operating license.

The stringent move comes in the wake of increasing complaints against network marketing businesses that are currently in operation.

Network Marketing Business!

The network marketing companies that are currently in operation are:

  • Nature Herbs International, Kumaripati
  • iboss Global International, Chabahil
  • New Bibek Enterprises, Ekantakuna
  • Healthy Living Nepal, Battisputali
  • Care Matters International, Chabahil
  • Uturn International, Tokha
  • Global Oriens Nepal, Balaju

These companies have received permission from the market regulators in the last one month. But these businesses have given rise to much controversy after many of them were found swindling billions of rupees from the customers.

So, last week, the parliamentary panel formed a task force to investigate on the modality of the business operation run by these seven companies.

ALSO READ | Profitable Business Investment Opportunities and Ideas in Nepal

However, this is not the first time people are suffering in the name of the networking business.

A decade ago, some companies including Unity Life International, Herbo International, Gold Quest International, Crystal Vision International, Best World Business Link, and Robious International exploited people.

Unity Life International alone duped around NPR 4 billion.

Stay Tuned to Nepali Sansar for Latest News!

August 6, 2020 |

 
The buddha life journey and significance
 
 

 

Subscribe to our Newsletter

Sign up for more inspiring latest news, events, tourism, and more from Nepalisansar.

Read previous post:
Live News: Global COVID-19 Updates
Nepal Imposes ‘Odd-even Rule’ in Areas with 200+ COVID-19 Cases

The global coronavirus death toll has crossed 700,000-mark and stood at 711,622, with the US, Brazil,…Read more

Close