Cement Manufacturers Association of Nepal has urged all the concerned stakeholders for the speedy implementation of provisions in the budget for the fiscal year 2022/23.
NCPA has welcomed the provision of cash incentives for export, and exemption in electricity tariffs for the industries. It has stated that the provision will protect and promote the established cement or clinker producing industries in the country and reduce the trade deficit in the country. The association expressed gratitude to the Ministry of Finance, Finance Minister, Minister for Industry, Commerce and Supplies, and secretaries of the ministries for formulating the budget that is beneficial to the domestic industries.
The provision of 8% cash incentive for the export of domestic products including cement and clinker is in the interest of the domestic manufacturing industries, the association said. This has led to a significant increase in the use of limestone, abundant raw material in the country, and if these industries are operated at full capacity, there is a possibility of withdrawing more than Rs 150 billion which will help in reducing the trade deficit in the country and saving foreign exchange reserves, according to the association.
The cement producers’ association has welcomed the provision of 15% discount on electricity tariffs to the industries that consume more than Rs 100 million annually will contribute to the development of the country’s industrial sector and promote export and substitute imports by creating an environment to consume power in the country.
