Cabinet is likely to give its final consent on Monday for the amendment of the Companies Act enabling a single person to establish a company on one's own
An official at the commerce ministry said the final draft will be placed before Cabinet meeting on Monday which has been waiting to be tabled for two years.
The Cabinet approved a draft of the amendment in November 2018.
Commerce ministry sources said the Ministry of Finance wanted to discuss the amendment which delayed the procedure for two years.
Once cleared at the cabinet, the formation of a company will no longer require a minimum of two persons as per a new provision which will be a major breakthrough expediting entrepreneur development in the country.
