Ghee and oil industries ruined

KATHMANDU: Twenty-one vegetable ghee and oil industries have been ruined as they have not been able to export their products to India since 16 months. Nepali industries have declined in competitiveness due to the unchecked smuggling in of vegetable ghee and soybean and sunflower oil from across

the open border.

Federation of Nepalese Chambers of Commerce and Industry (FNCCI) president Kush Kumar Joshi has alleged that the government is not paying any attention towards addressing the problem faced by vegetable ghee and oil industries that pay more than Rs 1 billion revenue to the government every year. The FNCCI president requested Prime Minister Madhav Kumar Nepal to take initiatives with the Indian government during his upcoming trip to India and discuss the topic of Nepalese products including vegetable ghee and oil getting free access to the Indian market. He also urged the PM to scrap the quota system imposed on these products.

Joshi said an investment-friendly climate has not been promoted in the country as the government of Nepal has been only focusing on border issues in discussions with India while neglecting trade issues. The business community has warned that nearly 8,000 employees will lose their jobs.