A reliable fillip

The government’s bid to form a single export promotion unit is a timely innovation that not only promises to streamline procedural groundwork but also opens a window of opportunity for the neglected class of exporters. The Cabinet’s endorsement of the proposal of the ministry of industry, commerce and supplies to integrate the Carpet and Wool Development Board (CWDB), Trade Promotion Centre (TPC) and Export Promotion Board (EPB) into a single and more powerful unit is expected to boost exports. Currently, the CWDB promotes carpet exports, the EPB boosts all types of exports while the TPC maintains foreign trade records. But once the new set-up becomes operational, ostensibly within a week, it would take care of all the core functions of three individual units under a single umbrella.

The new export promotion unit is bound to save considerable time, energy and resources by prunning administrative overgrowth and making the cumbersome paper work more systematic. Technical and procedural groundwork can thus be realised without incurring huge costs. Instead of more taxes, export subsidies and incentives to manufacturers can be a source of a reliable fillip to this neglected sector. As Nepal has to compete in quality, price, and reliability of supply with the world at large, duty free access to all Nepali products would be worth considering. Equally significant is the use of the state-of-the-art technology, regulations deterring unscrupulous elements and constant monitoring of the products if Nepal is to keep pace with the happenings in the rapidly changing global market.