December 24: Stakeholders have urged the government to promote domestic products of Nepal to protect the home-grown industries.

Speaking at the inauguration of the 9th edition of Neek Electric Expo at Bhrikutimandap on Friday, December 21, President of Confederation of Nepalese Industries, Hari Bhakta Sharma, said that the government should create a favourable environment for the Nepali industries to sustain in the market.

He urged the government to control or even ban the import of those products which can be produced in Nepal.

Similarly, Shekhar Golcha, senior vice president of FNCCI, appealed to the government to control illegal trade and promote domestic products while also protecting international and national brands.

Expressing concern on the trade deficit of the country, Golchha said that trade deficit has become a major challenge for the country as it has started affecting the country’s ‘balance of payment’.

He further said that the cost of doing business in Nepal is higher than other nations because of which there is no hope for having foreign investment in other sectors except tourism and hydropower.

In such scenario, the development of energy sector would help in the government’s target of attaining per capita income of $2000.

Nepal Ekarat Engineering Company (NEEK), the title sponsor of the event, also emphasized on developing industries that help to increase the use of electricity and electric products within the country. Managing Director of the company Kush Kumar Joshi said, “Hydro energy is the main base to bring prosperity to the country.”

On the formal inauguration of the event organised by Federation of Electrical Entrepreneurs of Nepal (FEEN), representatives from different eminent organizations and associations of the country also reiterated the importance of utilization, prioritization and promotion of domestic products within domestic market.

Sudarshan Prasad Paudyal, first vice president of the Federation of Electrical Entrepreneurs of Nepal (FEEN) which is organising the five-day event, said that the expo will help in promoting trade of electrical goods through this platform where customers and producers meet face to face.

On the occasion, Paudyal informed that the country imported electric goods worth Rs 78.30 billion in the fiscal year (FY) 2017/18 while it has imported such goods worth Rs 28.47 billion in the first four months of the current FY.

In this context, FEEN urged the support from the government to promote electrical products produced in Nepal and also to waive the customs duty for the import of energy-efficient electrical goods.

The expo organised with the theme “Energy for Economic Prosperity” features 77 different stalls exhibiting different foreign and national electric brands, energy-efficient products, safety products and smart technological products. The expo expects to attract 100,000 visitors. The five-day expo will be conclude on December 25.