Finance Minister Janardan Sharma has said policies would be simplified to establish manufacturing-focused industries.

He vowed this while receiving a memorandum from the Confederation of Nepalese Industries today.

The FNI submitted a memorandum to the finance minister, demanding the arrangement of loan up to Rs 50 million with project collateral for existing small and mid-scale industries so that employment and self-entrepreneurship would increase and the national economy would become dynamic.

The CNI expressed belief that the 'Make In Nepal' campaign it launched to transform the economy would be propped up by government provisions as mentioned in the recent white paper on national economy and common minimum programmes. The CNI has suggested policy reforms in 34 sectors. For this to happen, a committee has to be formed, comprising representatives of the finance ministry, Ministry of Industry, Ministry of Law, National Planning Commission and the CNI. For the promotion of domestic products, import of similar products should be discouraged, the CNI has underscored.

Finance Minister Sharma appreciated the 'Make In Nepal' launched by the CNI.

"I'm ready to work for reforms that encourage the private sector and increase revenue. From the point of view of labour, Nepal is rich at present. We need to mobilise youths," he added.

A version of this article appears in the print on August 19 2021, of The Himalayan Times.