KATHMANDU: The Nepal Land and Housing Developers Federation has expressed confidence that the ninth amendment to the Land-Related Ordinance is capable of contributing to reviving the country’s slowing economy.

In a statement today, Federation President Bishnu Prasad Ghimire thanked the government for endorsing the amendment through the Council of Ministers and forwarding it to the President for authentication.

The Federation said the ordinance, once issued, would relieve entrepreneurs who have long struggled due to land-ceiling restrictions. Ghimire added it will allow the sale of stalled housing and apartment projects, enabling buyers to register properties and obtain official land ownership certificates.

The Federation highlighted that assets worth Rs 200 billion have been immobilized due to existing ceiling provisions. Vice-Chair Deepak Kunwar stressed that revitalizing real estate would boost related sectors including cement, iron, bricks, timber, aluminum, and quarries by creating jobs for youth.

Although local governments are tasked with land classification, delays have caused repeated disruptions in land plotting. The Federation urged the government to find a durable solution to this issue.

It added that the ordinance, introduced with a clear understanding of entrepreneurs’ challenges, will benefit not only the business community but the nation as a whole.