Govt plans to promote small industries

Kathmandu, October 16

Industry Minister Sunil Bahadur Thapa has said that the government is planning to promote micro, small and cottage industries in the country. Minister Thapa also added that the government is mulling over implementing plans and programmes related to cottage, small and micro industries, which will contribute to the economic development and prosperity of the country.

According to him, the Ministry of Industry (MoI) plans to introduce subsidiary loan programmes to benefit small industries.

“The government is ready to enhance such industries. We are always open to discussions for development of industries,” he added, while addressing the representatives of Federation of Nepal Cottage and Small Industries (FNCSI) here today.

In an interaction organised at the ministry, Thapa added that the micro, small and cottage industries contribute more than 80 per cent to total exports of the country. “Many nations in the world have become self-reliant with the support of such small industries. So, our government has highly prioritised this sector,” he said.

However, Shyam Prasad Giri, president of FNCSI, complained that even the existing legal provisions aimed at promoting small businesses are not being implemented. “We have a legal provision that government offices should use domestic products even if they are up to 15 per cent costlier than foreign products. But, it is yet to be implemented.” Minister Thapa said that his ministry is willing to find a feasible solution to every problem being faced by the entrepreneurs. According to him, the government is ready to collaborate with the private sector to drive economic activities in the country. “The government had amended laws in accordance to the demands of the private sector. So, private players should increase their investment in the prioritised sectors,” he said.

The minister also expressed commitment to create investor-friendly environment and said that the government is ready to create opportunities to invest in multiple sectors in the country.

Meanwhile, FNCSI demanded that the government initiate actions to industrialise the agro-based industries by utilising remittances.