Kathmandu, May. 9: A high-level investment promotion directive committee has been formed under the chairmanship of Prime Minister Girija Prasad Koirala to act as a fast track committee with a view to make the promotion of domestic as well as foreign private investment effective in accordance with the open and liberal economic policies and the policy concerning privatisation adopted by His Majesty’s Government.

According to the Prime Minister’s office, the deputy prime minister, the ministers for construction and physical planning, water resources, finance and industry, the vice chairman of the National Planning Commission and the chief secretary have been designated members of the committee with the secretary at the Prime Minister’s Office as member secretary.

The Prime Minister’s Office will act as secretariat for the committee.

The committee will encourage and promote domestic as well as foreign private investment, sanction investment proposals, bring about necessary coordination in endorsement and implementation, follow-up on and supervise the implementation aspect of such proposals, create an environment conducive to such proposals and issue necessary directives in this connection.