March 9: Finance Minister Dr Yuba Raj Khatiwada has assured a delegation of small scale industries that the government will prepare its work plan considering the suggestions from them. For this, he has asked the small industries to submit the list of challenges they have been facing.
Khatiwada made such commitment while receiving suggestions from the delegation of Federation of Cottage and Small Industries at the Ministry of Finance Thursday, on March 8.
Khatiwada said that the issues raised by the small industries are genuine and the state should address these problems.
“The main base for the prosperity of the country is the private sector. So, the new government will promote for investment in small and medium industries, tourism sector as well as for agriculture and infrastructure development,” he shared.
During the discussion, the industrialists from small industries said that it is necessary to promote the small industries to reduce the trade deficit and to increase export.
President of the Federation of Nepal Cottage and Small Industries Shyam Prasad Giri said that the government should give 15 per cent cash incentives to help increase export of genuine Nepali products keeping in mind the inflation.
He urged for an arrangement of a basket fund under the Nepal Rastra Bank. According to Giri, the money can be mobilised in productive sectors through branches of BFIs. He said that the Deposit and Credit Guarantee Fund has not been able to work effectively and therefore this fund should be categorized under different sub-heads and a separate fund should be formed with the investment collaboration with donor agencies.