Kathmandu, May 27 -- The government is preparing to introduce a provision that would prevent industrial enterprises from directly spending money allocated under corporate social responsibility (CSR), a move that has created uncertainty in the private sector.

The government plans to centralise CSR allocations made by industries, and banks and financial institutions (BFIs) by requiring them to deposit the money into a designated fund. The government would then mobilise the money in sectors it prioritises.

The private sector and BFIs argue that the funds should be allowed to be used for the welfare of the local community where the particular industry or business operates.

The proposal has been included in the Balendra Shah administration'...