Nepal bans Foreign Investment in Print Media

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Last updated at: (Beijing Time) Thursday, June 20, 2002

Nepal bans Foreign Investment in Print Media

The Nepali government has enforced a long-term policy on information and communications, which prohibited foreign investment in the print media in the country.

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The Nepali government has enforced a long-term policy on information and communications, which prohibited foreign investment in the print media in the country.

"Foreign investment in print media will not be allowed in the context of enough flow of domestic capital to the sector," the Kathmandu Post Thursday quoted Prahlad Pokhrel, Under-secretary ofthe Nepali Information and Communications Ministry, as saying.

The policy aims at improving the performance of the state-run enterprises such as the postal service, telecommunications services, electronic and print media by introducing timely changesin their structures, said Pokhrel.

He stressed that the policy has been introduced in line with the liberal economic policy in a bid to expediting the developmentof the information and communications sectors with special focus on the government's programs and projects.

It will also guide the government to make necessary amendment to the existing rules and regulation related to the information and communications sectors and make necessary additions to them, he added.

"However, the policy does not prohibit foreign investment in the electronic media," he noted, adding that "foreign investment in the electronic media is allowed up to 25 percent in keeping with the current availability of technology and capital required for such media. But it will be stopped until the local investors are capable of investing in the media."

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