KATHMANDU, JUNE 23
The government is set to launch institutional initiatives to generate revenue through the promotion and marketing of domestic liquor.
Responding to queries raised by lawmakers during deliberations on the fiscal year's appropriation for the Ministry of Industry, Commerce, and Supplies in the House of Representatives, Minister Damodar Bhandari stated that a dedicated budget has been allocated to implement promotional programs for this purpose.
In the current fiscal year, mine exploration has also been accorded special priority. Minister Bhandari informed the House that Rs 500 million has been earmarked for entrepreneurship development, technological upgrades, and concessional interest subsidies for entrepreneurs. Additional programs and funds have been allocated to support young entrepreneurs as well.
The Minister further stated that the Ministry has adopted a policy to relocate industries currently operating within the Kathmandu Valley to designated industrial zones outside the Valley, offering incentives and free land lease arrangements to facilitate the move.
He added that legal and structural reforms are underway to strengthen public-private partnerships (PPP), a commitment reflected in the national budget. A framework has already been developed to operate the Dhaubadi Iron Company under the PPP model.
Efforts will also be expedited to develop the Simara and Panchkhal Special Economic Zones under the same model.
According to Minister Bhandari, the government is advancing various strategies to promote employment through the construction of industrial infrastructure, development of small and medium enterprises (SMEs), establishment of industrial villages, and implementation of skill development programs.
He also highlighted that the government has introduced several legal instruments-including the Economic Procedures and Fiscal Responsibility Act, 2076, and the Industrial Business Act-to ensure the effective implementation of industrial and employment-focused projects, as well as to boost capital expenditure.
(With inputs from Rastriya Samachar Samiti)
