No shortage of govt budget for SMEs: FinMin
Finance Minister Yubaraj Khatiwada today stated that there would not be any shortage of government budget for small and medium scale enterprises and entrepreneurs.
Addressing a fair organised by the Federation of Handicraft Associations of Nepal (FCAN) here today, Finance Minister Khatiwada said that small and medium enterprises have a crucial role to drive the country’s economy, and thus, SMEs will remain the primary priority of the government while allocating the budget.
Citing that the government is promoting subsidised loans to promote entrepreneurship in the country, Khatiwada urged SME entrepreneurs to seek such loans from banks. “Every bank has an SME desk. The government has also directed banks to promote and prioritise issuance of subsidised loans,” he informed.
The finance minister noted that SMEs are a sector with the highest export potential and thus, the government and banks and financial institutions (BFIs) should keep SMEs under due priority.
However, Khatiwada said entrepreneurs involved in the small and medium enterprise sector should come up with proper business plans to get support from the government and BFIs. “Entrepreneurs should have proper plans on their production target, potential market and the support they seek from BFIs and government,” he added.
Similarly, Minister Khatiwada also said that entrepreneurs should be clear about the nature of subsidy they seek from the government.
“Does their business need subsidy on raw material import or production or processing or export of finished goods? Entrepreneurs should first be clear about their requirement.
The government is ready to discuss with entrepreneurs on this issue,” he stated.
Meanwhile, he also urged handicraft entrepreneurs to set up handicraft centres across major tourist areas in the country in coordination with the government for the upcoming Visit Nepal Year 2020 tourism campaign. Khatiwada also asked entrepreneurs to set up a few such centres inside and around Dasharath Stadium targeting the flow of foreigners during the South Asian Games that starts in Kathmandu from Saturday.