Kathmandu, February 13:

The industrial policy taskforce today submitted its Industrial Policy 2065 draft to Minister for Industries, Asta Laxmi Shakya.

Speaking during the programme, Minister Shakya assured the taskforce that the draft would be implemented without any revision. “The industrial policy draft submitted is participatory and needs no revision as it has covered all sectors and was prepared by experts incorporating suggestions of people from all sectors,” she told the gathering.

The taskforce was formed on December 19,2008. The 15-member taskforce has Dr Pushpa Rajkarnikar as coordinator.

Tana Gautam, Secretary at the Ministry of Industry (MoI), assured of making amendments in the Industrial Act along with the approval of the Industrial Policy 2065 submitted by the taskforce.

A new industrial policy is necessary to bring change in the economic sector, development in Information Technology and fast and extensive development through industrialization.

Informing about the various advantages of the Industrial Policy 2065, taskforce coordinator Dr Rajkarnikar said, “The new industrial policy will be an effective one as it has covered all sectors. It has included cooperatives, small and cottage industries, special facilities for women industrialists, also has the provision for industries to close down if they fail to operate and encompasses special financial sector provisions.”

The main aim of the new industrial policy to build effective and inclusive medium for the development of industries and grant immense support to the national financial sector.

According to Dr Rajkarnikar, the policy will lead to more employment opportunities, establishment and operation of funds for investment promotion, technology development fund and revival of industrial fund, with the participation of private and cooperative sectors.

The policy also has the provision for promotion of contract manufacturing, outsourcing, and franchising activities. Incubation service will be granted to industrialists and businessmen, organisations and associations for frequent initiatives in trade and business. Priority will be given to the industrial sector in terms of electricity supply.

For small and cottage industries, the policy has plans for laws for formation and infrastructure development while through business incubation service, talented and creative youth and women will be attracted towards small and cottage industries. It will also provide the facility of Angel Fund and Venture Capital Fund for graduates from the Business Incubation Service to establish industries. The concept of one-village, one-product will also be promoted.