The government is preparing to run the closed industries by this fiscal year by unveiling policies needed for this feat.
Releasing the key accomplishments of his five-month in office, Minister for Industry, Commerce and Supplies Dilendra Prasad Badu said that the private-public partnership would be taken into consideration to run the industrial estate in a full-swing and resume the closed industries.
“The Ministry has advanced to draft needed laws, procedures, regulations and investment framework,” Minister Badu said. According to him, the government has accorded priority for employment creation and exports promotion while running all the industrial estates of the country, giving priority to the partnership of the private sector.
Likewise, the minister pledged for effective market monitoring during the festival season and control unusual price hike in the goods while ensuring smooth supplies of essential goods. Monitoring jobs could be made further effective with the proactive roles of and coordination between all three levels of government.
The government, as the Minister shared, was prepared to run the fair price shops from September 17, targeting the festive season which would contribute to control price hike to some extent. On the occasion, Minister Badu said studies were ongoing to lift ban imposed on import of four goods, adding that six out of imposed 10 goods were lifted considering the country’s economic status and reserve of foreign exchange.
The government has still imposed a ban on import of readymade alcohol, four-wheelers, and motorcycles with engine capacity of 150 CC and mobile phone sets that cost more than 300 US Dollars. The Ministry informed that concessional loan and rescheduling of the loan through fiscal policy and monetary policy to the affected industries is one of the key accomplishments made in the past five months.
Various other schemes of subsidy and grants were also provided during the same period. Similarly, promotional programmes were launched to grow aboriginal products in the mountainous districts, quantity of food supplies increased and efforts ongoing to control black-marketing of daily essentials. Prime Minister Production Promotion and Consumption Programme is run with high priority in the current fiscal year to substitute the burgeoning imports of goods, the Ministry said.
Moreover, Minister Badu said preparations are afoot to give subsidy to establish processing industries in the pocket areas for the production of cardamom, turmeric, ginger, garlic, pepper, coriander, cumin, chili and other spice-like products along with technology transfer for their export.
As shared by the Ministry, a total of 309 industries have been registered in the Department of Industries and a total of Rs 343 billion in investment brought in with the commitment for the creation of 28,527 new jobs. On FDI, Rs 45.16 billion has been received through 295 projects for the creation of 16,905 employment opportunities in the country.
The Ministry also said that country is now self-reliant on cement as around 90 per cent of the total demand for cement is produced in the country and some industries have even started to export to India.
