Competition Promotion Act Nepal

Nepal's Competition Law, which is the Competition Promotion and Market Protection Act, 2063 (2007), is the main legal instrument that regulates the competition and market practices in Nepal. The law was enacted in 2007 with the aim of making Nepal's economy more open, liberal, market-oriented, and competitive by maintaining fair competition between or among the producers or distributors of goods or services, enhancing national productivity by developing the business capacity of producers or distributors by way of competition, protecting markets against undesirable interference, encouraging to make the produced goods and services available to the consumers at a competitive price by enhancing the quality of goods or services by way of controlling monopoly and restrictive trade practices, and maintaining the economic interests and decency of the general public by doing away with possible unfair competition in trade practices.