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Urge to revive sick industries

   
  

Added At:  2011-04-04 10:48 PM

   Last Updated At: 2011-04-04 10:48 PM

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HIMALAYAN NEWS SERVICE

KATHMANDU: Economic and Labour Relation Committee under Constituent Assembly (CA) today directed the government to come up with appropriate plans at the earliest to revive the sick industries.

Blaming Sick Industry Unit under the Industry Ministry for being ineffective the committee also discussed the possibility to form a separate Sick Industry Board under the Finance Ministry.

“It is very crucial to bring a law to govern sick industries,” said former finance minister and CA member Dr Ram Sharan Mahat. “The Finance Ministry had already started to draft Act,” he said, adding that the committee should take initiative to restart the Act drafting process from where it was stalled. “Government can do nothing unless the Act is drafted.”

In the meeting, most of the lawmakers raised questions over the chances of misusing the fund, if government allocated it to revive sick industries.

“If the law does not ensure strong and independent mechanism for identification and monitoring of sick industries, the fund will surely be misused,” lawmaker and industrialist Diwakar Golchha said.

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