Kathmandu, February 14:
Federation of Nepalese Chambers of Commerce and Industry (FNCCI) president Kush Kumar joshi, during a meeting with Richard A Boucher, US Secretary of State for South and Central Asian Affairs, urged the latter for increase in support for development works in Nepal.
The meeting focused on the development of the private sector. Representatives from different sections of the private sector explained the need for development and market promotion of agriculture, handicrafts, hydropower, tourism infrastructure, readymade garments, carpets, pashmina. Nepali readymade garments (RMG) comprise seven per cent of the total Gross Domestic Product (GDP). However, after removal of the quota system the emplaoyment rate in this sector has been cut. The private sector urged the US government to review its policy and make Nepali RMG, carpet, and pashmina tax-free.
Boucher advised the industrialists to use facilities under the GSP and assured of continuing support for the economic development of Nepal.