Kathmandu. Parliaments have emphasized that the Asset Laundering Prevention Act should be finalized within the current session of the Federal Parliament.
During the meeting of the Law, Justice and Human Rights Committee under the House of Representatives on Monday, the MPs emphasized this while speaking on the bill to amend some Nepal Acts related to prevention of money laundering and promotion of business environment. Most of the MPs said in the meeting that it is necessary to finalize the Prevention of Asset Laundering Act in the current session of Parliament.
They said that it is not only the making of the law, but it is also a matter of the nation from an international point of view. Speaking at the meeting, CPN-UML Vice President Subash Chandra Nemwang said that even if extra time was given, the Prevention of Asset Laundering Act should be completed soon.
He said that the country needs to get the Prevention of Money Laundering Act. Nemwang said that although there is talk of amending the Money Laundering Prevention Act, there are limitations in the bill proposed by the government. He said that he cannot go beyond the bill submitted by the government to discuss the committees and parliaments.
He mentioned that according to rules, laws and customs, the government cannot go beyond the proposed bill. He said that the bill regarding the Prevention of Asset Laundering Act should be discussed and reached within the framework of the amendments made by the parliaments. He said that the entire country has agreed in principle on the bill related to the Prevention of Asset Laundering Act. He said that all political parties agree on the need for a strict law on asset laundering in the country.
In the meeting, chief whip of Nepali Congress, Ramesh Akhtar, said that it should be resolved immediately as it is not only for the country but also an international issue. He said that failure to enact a law related to asset laundering may add to the complexity of the country. He said that it is necessary to finish without spending at least 10 days in the committee.
In the meeting of the committee, the parliamentarians emphasized that a sub-committee should be formed or discussions should be held with stakeholders and experts to finalize the Prevention of Asset Laundering Act.