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Wednesday, October 20, 2021
    Nepal Breaking NewsGeneral NewsThe policy for establishing manufacturing industries will be simplified: Minister of Finance

    The policy for establishing manufacturing industries will be simplified: Minister of Finance

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    Finance Minister Janardan Sharma has stated that policies to build manufacturing-focused firms will be streamlined.

    On Wednesday, he the promise while receiving a memorandum from the Confederation of Industries (CNI).

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    The FNI sent a memorandum to the Finance Minister, requesting that loans of up to Rs 50 be available to current and mid-scale enterprises with collateral, in order to boost employment and self-employment and make the national economy dynamic.

    The CNI expressed confidence that the government measures specified in the recent whitepaper on the national economy and common minimum programmes would support the ‘Make In Nepal’ campaign it initiated to reshape the productive sector.

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    The CNI has proposed policy changes in 34 different areas. To make this happen, a committee made up of officials from the Finance Ministry, the Ministry of Industry, the Ministry of Law, the National Planning Commission, and the CNI must be constituted.

    Imports of identical products should be discouraged in order to promote domestic products, according to the CNI.

    Finance Minister Sharma praised the CNI’s “Make In Nepal” initiative during the event. “I am willing to work for measures that promote the private sector and raise income.

    Nepal is currently prosperous in terms of workforce. He went on to say, “We need to mobilise youths.”

    Bishnu Kumar Agrawal, CNI Chair, believes that the monetary policy is favourable in general, but that the misunderstanding caused by the cancellation of CCD radio should be resolved as soon as possible.

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