Industrial Policy in offing

Kathmandu, November 18:

Trade Minister Astalaxmi Shakya said that government will bring Industrial Policy within a month. Addressing a seminar here on Industrial Policy, Trade Policy, SEZ and Industrial Rehabilitation organised by Confederation of Nepalese Industries (CNI) in association with Enhancing Nepal’s Trade-related Capacity, Ministry of Commerce and Supplies/UNDP today she assured the business community that government will soon bring Special Economic Zone (SEZ) Act and revive sick industries that can be revived. “The government, according to the blue-print spelled out in the budget, bring SEZ Act,” Shakya said.

“Industries contribute only five per cent to GDP that was earlier 10 per cent,” said CA member

and president of CNI Binod Chaudhary.

“The newly-formed Industry Ministry has a lots of responsibility at a time when the industries are pulling their shutter down,” he said adding that new institutional framework has to be brought to revive sick-industries.

CNI has also presented a draft Industrial Policy also. Anuj Agrawal of CNI presented the draft Policy on the occasion.

Similarly, Dr Aradhana Aggarwal, Head and Associate Professor at the Department of Business Economics, University of Delhi shared the Indian experience of SEZ Act and its implementational problems.