CEO Tab
  • Home
  • Prime News
  • International Market
  • Special Report
  • Corporate
  • Opinion
  • Next Gen
  • Entertainment
No Result
View All Result
CEO Tab
  • Home
  • Prime News
  • International Market
  • Special Report
  • Corporate
  • Opinion
  • Next Gen
  • Entertainment
No Result
View All Result
CEO Tab
No Result
View All Result
Home Prime News

Govt preparing to legalize cannabis cultivation

CEO TAB by CEO TAB
March 12, 2020
in Prime News
0
Govt preparing to legalize cannabis cultivation
75
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter

Kathmandu, March 11: The government is planning to endorse a private bill that seeks for commercial cultivation of marijuana for medicinal purposes and for export.

You might also like

Nepal Airlines’ Financial Crisis Deepens as Debt Burden Surges

Import Loans Rise Sharply as Private Sector Lending Remains Weak

Government Assures Adequate Sugar Supply Despite India’s Export Ban

The bill was registered at the House of Representatives by Sher Bahadur Tamang, a Nepal Communist Party lawmaker and former minister for law and justice, on March 2.

According to media reports, the government is being positive towards legally allowing interested farmers to cultivate cannabis in specific areas with specific purposes.

The concerned authorities have come up with such posture after the United Nations Office on Drugs and Crime (UNODC) asked Nepal to clarify its stance on the legality of marijuana cultivation.

Joint-secretary of the Home Ministry, Narayan Duwadi said in the 63rd session of the Commission on Narcotic Drugs (CND) held by the UNODC from March 2- 6 in Vienna, Austria that Nepal was in favor of decriminalizing such cultivation in a regulated fashion.

During the session, he said,” The Nepal government is mulling over the formulation of a new act that permits the production, collection, and sales of hashis. Such hash will be obtained from the wild cannabis plants that grow naturally   in the western hilly region of the country.” Duwadi added that any person involved in the production of hash as per the proposed new act will not be liable to any legal prosecution.  

The Narcotics Drug Control Act-1976 criminalizes the sale, cultivation, and consumption of cannabis. Those involved in marijuana cultivation now can face a jail term of three years and up to Rs 25,000 in fines. Similarly, marijuana trafficking can lead to 2 to 10 years in jail and a fine of up to Rs 1,000.

According to the bill, any farmer with a desire to cultivate marijuana will be able to acquire a license from the local government or the respective district after specifying the area of cultivation, the people involved in the cultivation, and assurance against unauthorized use.

The bill proposes the formation of a 14-member Marijuana Board led by the health secretary to regulate and manage the cultivation and sale of marijuana. Similarly, it also envisions a regulatory body at the district level, led by the chair of the District Coordination Committee. Producers will be able to sell their products to medical companies as prescribed by the board, to people authorized to consume marijuana for medicinal purposes, and to authorized agents for export to other countries.

Sources at the ministry said all necessary official processes will be gradually carried out to decriminalize marijuana cultivation in the country on the basis of the American model.

In the US, the state-level laws permit marijuana cultivation even though the federal ones prohibit the same. Here in the country too, preparations are on the way to register a bill on the cultivation and management of marijuana in the assemblies of all seven provinces across the country.

Notably, the very bill has already been registered at the assembly of Bagmati Province by former minister Keshav Sthapit.

Experts opine that the legalization of marijuana cultivation could well be a game-changer of the Nepali economy. “Our country possesses immense potentials to produce marijuana with high tetrahydrocannabinol ( THC) level. Since such marijuana is in high demand in the international market, Nepal can earn billions of dollars annually from such sales,” they argue.

Share30Tweet19
CEO TAB

CEO TAB

Recommended For You

Nepal Airlines’ Financial Crisis Deepens as Debt Burden Surges

by CEO Tab
May 18, 2026
0
Nepal Airlines to operate  daily flight in Kathmandu-Delhi route

The financial condition of state-owned Nepal Airlines Corporation has worsened significantly, with the national flag carrier facing mounting debt and growing concerns over its long-term sustainability. According to...

Read more

Import Loans Rise Sharply as Private Sector Lending Remains Weak

by CEO Tab
May 18, 2026
0
Loans from BFIs to private sector increases by Rs 192.64 billion till mid-January

Loans issued by banks and financial institutions (BFIs) for imports increased by 32 percent during the first nine months of the current fiscal year, reflecting growing demand for...

Read more

Government Assures Adequate Sugar Supply Despite India’s Export Ban

by CEO Tab
May 18, 2026
0
India extends ban on sugar exports by a year

The government has assured the public that there will be no shortage of sugar in the domestic market despite India’s recent ban on sugar exports. According to Ministry...

Read more

Nepal Rastra Bank to Review Standing Deposit Facility to Strengthen Interest Rate Corridor

by CEO Tab
May 18, 2026
0
Interest rates not to change despite high demand for loans

Nepal Rastra Bank has announced plans to review the existing Standing Deposit Facility (SDF) provision in an effort to make the interest rate corridor more effective. The move...

Read more

NRB Plans to Review Standing Deposit Facility to Strengthen Interest Rate Corridor

by CEO Tab
May 17, 2026
0
Interest rates not to change despite high demand for loans

Nepal Rastra Bank (NRB) has announced plans to review the existing provision of the Standing Deposit Facility (SDF) in an effort to make the interest rate corridor more...

Read more
Next Post
Bomb detonated at former communication Minister Baskota’s home

Bomb detonated at former communication Minister Baskota's home

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Corporate
  • Entertainment
  • Featured
  • International
  • Major Story
  • Next Gen
  • Opinion
  • Prime News
  • Special Report
  • Tete – A – Tete

EDITOR

Manish Raj Poudel
info@ceotab.com
9841317747


PUBLISHED BY

Welcome Group
www.welcomeadnepal.com

Publisher

www.ceotab.com is a premium news portal being run by Welcome Group. The website features quality business/economic news contents,  in-depth profiles of companies, stories of struggle and success of entrepreneurs, articles that assess various dimensions of  the commerce, trade and economy.

Editor

Manish Raj Poudel

info@ceotab.com

9841317747

Sub-Editor

Riza Poudel

poudelriza@gmail.com

Archives

© 2023 CEO Tab. All rights reserved.

No Result
View All Result
  • Home
  • Prime News
  • International Market
  • Special Report
  • Corporate
  • Opinion
  • Next Gen
  • Entertainment

© 2023 CEO Tab. All rights reserved.