Transport bodies which include transport companies and associations across the country have formally announced their shift into companies.
The Federation of Nepali National Transport Entrepreneurs (FNNTE) has announced that all transport bodies have transformed themselves into company modality in line with the government’s direction.
“All transport bodies under FNNTE have transformed themselves into company modality as sought by the government. We expect support from the government in the future to strengthen and further improve the public transportation sector of the country,” said Saroj Sitaula, general secretary of FNNTE.
While inaugurating the event, Minister for Transport and Physical Infrastructure Raghubir Mahaseth, said the transformation of transport bodies into companies has ended the syndicate system that existed in the public transportation sector.
The move to make transport bodies register as the company was intended not only to end the monopoly of transporters in public transportation sector and ensure sector’s healthy growth but also to bring Nepal’s public transport sector under the income tax net of government. FNNTE has claimed all these transport bodies have transformed themselves into company modality.