Nepal | October 21, 2019

Govt to adopt policy promoting domestic production: FinMin

Himalayan News Service

Kathmandu, September 19

Finance Minister Yubaraj Khatiwada today said that the government will adopt a policy to encourage domestic production of goods over imports and encouraged businesses to engage in manufacturing of goods over importing them.

Inaugurating the Yarn and Textile Expo 2019, organised by the Nepal Yarn Producers Association here today, Finance Minister Khatiwada said that boosting
domestic production and promoting them in both domestic and international markets is the need of the hour and to enhance country’s economy.

“The government will support domestic production by any means, including incentives and other tax facilities for domestic goods. However, the businesses should stop seeking facilities from the government in imported goods,” he said.

Similarly, Minister Khatiwada also informed that the government is committed to promote the use of domestic goods in all public offices of the government.
The five-day event is being organised to promote domestically produced yarn and textiles.

Producers are showcasing yarn, textile and garment products produced in the country using domestic raw materials at the exhibition that is being held at Bhrikutimandap.

A version of this article appears in print on September 20, 2019 of The Himalayan Times.

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